Re:Champions of the 401(k) Lament the Revolution They Started
by yellowbeard on Monday January 02, 2017 @10:38PM
(#13306498)
If you can't collect until your sixties, you still have some thirty years or so to work through.
Re:Champions of the 401(k) Lament the Revolution They Started
by chimeracoder on Tuesday January 03, 2017 @01:31PM
(#13311593)
> If you can't collect until your sixties, you still have some thirty years or so to work through.
...so?
This whole thread is in response to the claim that "I doubt there's even one pension plan, public or private, in the U.S., Europe, or Asia which [provides 100% of salary as a pension after working 25 years for eligiblity]".
So, having a pension which provides more than 100% of salary as pension after working only five years for eligibility is very relevant. That's far more generous even than what OP described.
Oh, and that income is tax-exempt in many places, to boot. It's an absurdly lavish benefit.
That's the minimum. It goes up from there depending on your position. Typically, you could expect to make a lot, lot more than that, even for very short tenure: http://www.un.org/Depts/OHRM/salaries_allowances/salary.htm
> which you can start collecting when you're 62 years old
...yes, but the point is that you only need to be employed for five years to be eligible for lifetime benefits. Work there for 5 years in your 20s and you're set.