But you keep reacting as though it's something ODD or SURPRISING when it has been the STANDARD way to fund such thuigs all along!
William Beveridge (and Nye Bevan) created the State Pension on EXACTLY that basis; the NEXT generation pays for THIS generation's pensions! It was blatantly DAFT but.... what did you expect?
Having said that, what ELSE could they do for the returning soldiers, sailors and airman returning to a bankrupt country after the last war. There was no chance that they could earn enough to pay for a living pension within their remaining years and thus B & B had few honourable options!
I agree that PART of the pension scam/failure has been because of the same basis..... but you are being too specific! Even many of those who HAVE saved for their pensions in the manner that you seem to prefer have been almost wiped out by the failures, slumps and over estimated returns promised to the 'payee'. Pensions across the board have been a NIGHTMARE and are due to cause further problems. Howeverd, just like those who sensibly saved, I doubt that the mistakes of the people YOU are condemning were because of GREED anymore than the ones who saved in YOUR approved manner who 'got it wrong'..... it's MUCH more likely that most (not ALL) of it was cause by simple errors!
I think you are trying to 'scape goat' someone.
Ian
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