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Related: About this forumNine million American pensioners forced to work into old age
At liberty to be poor! USA! USA!
Why should someone who has made their lifelong contribution to society be able to survive without working and enjoy a retirement? We do have our wealthy people that require what is due them and it is obviously a national priority since they are currently well taken care of.
As strikes continue in France over pension reform, we focus on the situation in the United States. US pensions are based on a public pay-as-you-go system, which is managed at the federal level and is much less generous than in France. But only 26 percent of Americans have a complementary private pension plan. This means that many of them have to put money aside, and an increasing number are forced to keep working beyond the legal retirement age of 65 to make ends meet. Our Washington correspondents report.
LakeArenal
(28,827 posts)dawg day
(7,947 posts)And in three years, I will get a SS payment of $1160 a month. I will be allowed at that point to also stay working until I'm 68 so that I can finally get vested in a pension at my employer (unless they lay me off or force me to retire). Then I can retire with a pension of $422 a month. LOL.
It hardly seems worth it, but I guess it's better than nothing. Low paid all my life, lower-paid even in retirement. But my work isn't hard or physical, so that's a blessing. I can't imagine waiting tables or anything that required me to stand all day (like cashier work), or actual manual labor. We shouldn't expect Americans to literally work themselves to death.
appalachiablue
(41,153 posts)/S
MarcA
(2,195 posts)and draining the swamp are really all about to the likes of Moscow Mitch,
drumph, the kochs and the other oligarchic would be rulers; and if we don't
stop them it will get worse. Either their vision of the world goes or ours does.
Cartoonist
(7,319 posts)Now on SS, but it's not enough. I have to work part-time. Since I'm sure prices will go up, I may have to go back to full time.
Binkie The Clown
(7,911 posts)... every time I see a Walmart greeter or McDonalds burger flipper older than me. And I see them all too often.
Loubee
(165 posts)are about to be wrung out and drained by the GOP warmongers that have been allowed to seize control by foolish voters and a greedy, treacherous ruling class.
Skittles
(153,169 posts)Pensions are disappearing, and it's harder for people to save because all the gains go to the top now - 401Ks are at the mercy of the stock market and we have seen what can happen there. Regular savings get dismal interest. And younger folk are even more worse off because they are being saddled with so much debt just trying to get ahead.
America's entire retirement system needs to be revamped - it's not working for the majority of people