Inaksa t1_j3u6chi wrote on January 11, 2023 at 2:13 AM

Reply to comment by AdministrativeWar594 in Walmart cashier, 82, retires after TikTok raises $100,000 by greatestmofo

I understand what you are saying. In Argentina (and many countries) there were this private administered funds (specially during the 90s) and pensions were forced into them. Eventually what those entities did was gamble the funds buying high risk bonds, and you can picture how that went.

I dont trust my government, but even less an unaccountable private entity to guard those funds. You may say that couldnt happen in your country but when it does you end up with the government having to foot the bill in order for citizens to be able to survive. It sucks but those are the rules of the game apparently

CharuRiiri t1_j3uo8tw wrote on January 11, 2023 at 4:25 AM

Yeah, it sounds great on paper but ultimately the fund won’t lose money, it’s peoples pensions that will take a hit. Happened in Chile too, they advertised a lot for people to switch from the old system and join the new one, promising substantial pension rises and when the first people started getting their pensions they amounted to less than half the minimum wage.