patrick.net

kentm says

* The average retirement age raised from 61 to 63, and early retirement restricted;

That's weak. They should have raised it to 75. No wonder their austerity isn't working yet. It's way too limp wristed.

I read in greece you can inherit a pension. But only for unmarried duaghters. So I suppose right after they passed that 'law' the marriage rate dropped in half. hah.

I read about a small city in the US that was banrupt recently they also made it so children and grand children could INHERIT THE PENSIONS of city employees. Talk about cuba!!! we are half way there - rich people are all gov employees in cuba.

Ruki says

Ptipking222 says

the country pays out way more in wages/pensions than it takes in taxes.

You talking about Greece?.....or California or Illinois or New York state or the several hundred cities/towns in the US that are insolvent because of their pension liabilities, if not outright bankrupt because of them?

Obey The Tripods

Several hundred? You are off by an order of magnitude. Probably closer to 40-50% of states, counties, cities, towns, independent authoraties, etc. cannot meet their future pension/health care obligations no matter how much taxes are raised. What has happened so far is the tip of the iceburg, the next 10-15 years is going to be a very rocky ride.

http://www.bloomberg.com/news/2012-06-03/aig-chief-sees-retirement-age-as-high-as-80-after-crisis.html

Says 80 should be retirement age,.

Hmmm... makes me wonder if Pensions and Social Security and welfare seem like a packaged government Ponzi scheme.

Wait... we have that now... DOH! :^{

mikey says

I don't want the dollar store to become the five dollar store.

Don't hold your breath. It used to be called the Five-and-Dime.

(The $ 0.05 and $ 0.10 store, if you will.)

mikey says

I don't want the dollar store to become the five dollar store.

We already have them around here:

80 come on. There's some people (slave drivers) who never want to see others released from the yoke. They think that's why we were all born... to work... for them. Let this failed AIG dork work until he's a 100. There are many though, who don't know what to do with themselves without a job (someone telling them what to do)

There is no reason the retirement age shouldn't be going lower. Due to increased productivity, one person working today produces 4 times what a worker in 1950 produced. Wall street and corporations have gamed the system so they get almost all of these gains.

Thoreau wrote in the 1840s that he was able to produce all he needed for the year by working six weeks in his garden. The balance of his time, he said, was his. Save your money, live reasonably, and retire when you decide, not the government.

Zakrajshek says

Thoreau wrote in the 1840s that he was able to produce all he needed for the year by working six weeks in his garden. The balance of his time, he said, was his. Save your money, live reasonably, and retire when you decide, not the government.

I agree. But to those too stupid to save, their retirement age should be 80. Remember when Social Security was first introduced the average lifespan was something like less than a year after you began to receive benefits.