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Pensions may be cut to 'virtually nothing' for 407,000 people

ludin said:
which has nothing to do with taxpayers bailing them out.
again your complaint is with a private company that couldn't make the promises
that they made. the fund was corrupted and abused and now it can't pay.

I don't see how this is a taxpayer problem nor should it be.
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it's a public problem in the same way that a company which doesn't pay the wage both employer and employee agree on is a public problem. we all end up footing the bill to pay for impoverished elderly people who assumed that they had the pension which they were promised. so, when a pension fund does something like that, it needs to be liquidated. eventually, non-suicidal pension funds will be forced to be a lot more responsible in how they invest. a greater degree of regulation is needed here.
 
RetiredNSmilin said:
Your retirement years should be of peace, enjoyment, relaxation, and doing crap you have always wanted to do but were limited by work and funds.

Taking up a musical instrument, travelling, starting a herb garden, or just watching the grass grow and knowing you can go out to eat that night without it devastating the budget.

That is what RETIREMENT is supposed to be like.

Those that steal this away from them should be hanged.
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when people stop relying on others then this would be fine. you see it all the time.
company can't keep up with the pension payments and files bankruptcy pays pennies on the dollar.

why would you even trust them? my 401k is in my own hands. I own it. the only one that can screw it up is me.
 
Helix said:
it's a public problem in the same way that a company which doesn't pay the wage both employer and employee agree on is a public problem. we all end up footing the bill to pay for impoverished elderly people who assumed that they had the pension which they were promised. so, when a pension fund does something like that, it needs to be liquidated. eventually, non-suicidal pension funds will be forced to be a lot more responsible in how they invest. a greater degree of regulation is needed here.
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no it isn't a public problem it is a personal problem between the person and their pension fund or company.
you avenue is a legal one that you can file suit against the company for damages.

same with the elderly people. they can join in on the suit to attempt to collect the liquidity of the company.
that isn't the public's issue that a private company or fund failed to live up to it's obligations.

stop depending on other people and save and invest for yourself then you won't have that issue.
 
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