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209 sats \ 3 replies \ @Undisciplined 22 Apr \ on: fate of pensions in small countires? econ
Most pensions in the US converted to defined contribution, rather than defined benefit, a while ago.
Those are inherently sustainable, regardless of population size, because you only get out what you put in + however much your investments grew.
is that what a 401k is basically?
a shift to a model of what you put in, you get out, would be more sustainable imo
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That's right. 401k is one type. I don't know the differences between all the different types, but there are a bunch of them.
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If USA loses reserve currency status and hegemony over global financial system then US pensions based on US financial markets decline with that decline of empire.
Defined contributions pension scheme shift all the market risk from the pension plan provider to the retiree...
All care and no responsibility is what US defined contributions pension plans are.
Chinas mBridge trade payments protocol looks like it could destroy the Petrodollar...with the Saudis joining the program recently and Iran and Russia already on board selling their oil and gas outside of USD/SWIFT.
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