Pension for eating oil
Sep. 11th, 2007 by AlSome disturbing facts for the elderly in the not so distant future rewards for eating oil all their lives.All of us know that most working adults in their twilight years will not have much savings to last them till their demise.Many of you will ask why blame it on oil..well the oil factor has give men the opportunities to outbreed themselves yet created an economy not sustainable enough to see them thru the retirement years.The impact on fossil energy has always been a major factor in our monetary system worldwide though not much information has been talk about their close relations.And so speed of our technology march thru in a merciless way in our oil backed technophile world and a false sense of progress directing growth leading us to nowhere but fear of the unknown.
Some countries that is pushing on pension reforms:
Japan
-World’s fastest aging population with 26% of it 127 million poplation over 60
-Workers can retire at 65 but most like to work longer
-Pension system is complex and slow to change, and employers do not want older workers
United States
- Popular Social Security state pension system resistant to change
-Workers in employer-sponsored pension schemes like 401(K) rarely diversify their investments
-Companies encourage low savings in 401(K) so they won’t get balmed if investments go bad.
Singapore
-Has one of the world’s fastest aging population
-Workers are asset rich but cash poor risk averse and slow to invest in their CPF fund
-From 2012.there will be laws to make employers re hire older workers
No comments yet.