Re:Show HN: How to start a business in France
by saiya-jin on Wednesday October 17, 2018 @05:13AM
(#18237417)
Its not that unique social system, quite contrary - a lot of countries have this setup since 50s or 60s. Eastern Europe is moving/moved from this system in many cases.
You can either save for yourself (ie in mandatory pension funds) and have a risk of bankruptcy (with some governmental cover, but can't expect 100%), or have a system where current workers pay pensions for current retirees, or some mix of those. And all you can do is hope hard that once you retire, there will be enough people working for your pension (it won't). You have to save/invest aside to be really safe in 20-30 years - not really great social system if you ask me. Expect retirement age to be raised gradually exactly because this is failing.
It is utterly unsustainable, demographic curve and raw numbers won't let you do miracles, and you can't rely on pure immigration to fix this these days.
Happy to be in the system which doesn't work like that, I can see how much I have spared, what is the projection for retirement etc. I can decide when I to retire and manage with what I have saved.
You can either save for yourself (ie in mandatory pension funds) and have a risk of bankruptcy (with some governmental cover, but can't expect 100%), or have a system where current workers pay pensions for current retirees, or some mix of those. And all you can do is hope hard that once you retire, there will be enough people working for your pension (it won't). You have to save/invest aside to be really safe in 20-30 years - not really great social system if you ask me. Expect retirement age to be raised gradually exactly because this is failing.
It is utterly unsustainable, demographic curve and raw numbers won't let you do miracles, and you can't rely on pure immigration to fix this these days.
Happy to be in the system which doesn't work like that, I can see how much I have spared, what is the projection for retirement etc. I can decide when I to retire and manage with what I have saved.