The pension system is a mess to change because it was basically built like a generational ponzy scheme. To reform it means that whatever generation living through the reform gets fucked, hence why there's so much resistance to any change...
All of the Pay-as-you-go pension systems are in this position. Very short-sighted politicians. We all need a system like Australia's "Superannuation" system. Self funded retirement plans
As an Australian superannuation is such a great initiative! I can’t believe it’s not more widely adopted. We do also have pensions still and they’re pretty generous in comparison to most countries. We are however experiencing the boomer bottleneck in that there’s less younger people to keep paying for them and they’re all starting to need expensive aged care which no one can really afford.
It would have been soooo much easier to fix this problem 30 years ago. With slow careful measured changes over time. But now more drastic measures will be necessary sadly.
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u/BobFuel 6h ago
The pension system is a mess to change because it was basically built like a generational ponzy scheme. To reform it means that whatever generation living through the reform gets fucked, hence why there's so much resistance to any change...