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Hornblower wrote:kzt wrote:There simply won’t be any lifetime pensions. You can’t be paying people in retirement for 250 years after 30 years of work.
It will probaly be the other way round. You work for 250 years (one or several careers) and is then in retirement for 30 years. As I understand prolong the active period of your life is prolonged. and old age is two or three decades at the end of your life.
It is probably a good idea to like your job if you have to do it for 250 years.
Or pensions themselves will be replaced with the Honorverse equivalent of the 401k. It's your responsibility to save and invest for yourself; your employer doesn't have much or anything to do with it.[/quote]
Doesn't work like that. I have a pension from the service...served 20 years and I started collecting it immediately. But the time served counted as teaching service when I became a teacher and started pay as a veteran teacher. Also, I used the service pension to "buy" time as a teacher and retired 20 years later as a teacher/administrator of 40 years. By that time, the service pension no longer had to pay out for the service and I collect both.
It is not all that uncommon or at least wasn't back about thirty or more years ago.
And it is likely that people WILL be working most of their lives and there will be some sort of investment system but there will be more likely a more rational way of doing things than the US has now. More likely, the SYSTEM will do private investments...particularly for needed goods and services and provide good money.
Also, remember that if you put the equivalent of 5000 dollars a year away for a century that would already be a lot but it will also be growing. Compound interest alone would make you a multimillionaire after a century and at two centuries you could really live it up.