-12 upvotes, 3 direct replies (showing 3)
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Yes but if the system was made so we knew that nobody was gonna give us money after we retired then people would prepare themselves for their own retirement. Now people just rely on the pension. If the pension never existed then people wouldn’t rely on it they would plan their own finances
Comment by LARRY_Xilo at 04/11/2024 at 09:50 UTC
14 upvotes, 1 direct replies
You act like everyones live just goes perfect and there are never any problems. That everyone makes enough money so they can save enough money to retire. That everyone is good with money and wont just spend that money.
Well that isnt live and most western societies believe that it is a societies duty to make sure everyone can live a decent live not just those fortunate enough to make good money.
Comment by pinwale at 04/11/2024 at 09:51 UTC
9 upvotes, 0 direct replies
A significant portion of the population may be unable to invest, don’t invest, retire during a bad economic year/decade or they could have done everything right and their investment simply couldn’t match inflation… which is why many countries have turned to a variety of retirement systems to provide some sort of minimum living support. Whether a specific retirement system is successful at that goal or not is a matter of implementation.
Comment by butt_fun at 04/11/2024 at 10:11 UTC
3 upvotes, 0 direct replies
Forgive me if I sound like a dick, but the UAE's economy is not a practical model for just about all of the rest of the world. The UAE has the convenient benefit of ridiculous oil reserves that most places on earth do not
It's easy to say "why don't people try harder" if you've never had to try very hard yourself