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5 sats \ 1 reply \ @anon 22 Apr \ on: fate of pensions in small countires? econ
In my Opinion, gov'ts shouldn't do social programs, health and welfare etc. Those are contradictory to the ideas of freedom, and the purpose of govt for a free people is to secure the common good. That is, protect the weak from the strong, uphold the natural law.
Pension funds sound great, but they are terrible idea. They always fail, except where guaranteed by gov't to print the needed money. What could go wrong?
There are always circumstances where people fail to adequately save for retirement - often no fault of the people.
Here in NZ we were the first country to provide a pension for people because there were a lot of guys who came here for the gold rush, didn't strike it rich and had no family to care for them.
We still provide a basic state pension to anyone who wants it but if you want a comfortable retirement you need to save as well.
The sight of old people in poverty is not pretty.
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