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What do you think about pension reform?

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violetcepetreska | (Level 1) Honors

Posted December 10, 2011 at 11:23 AM via web

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What do you think about pension reform?

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

Posted December 10, 2011 at 11:42 AM (Answer #1)

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To get a better answer, perhaps you could ask a more specific question.  It is hard to know here if you are talking about pensions in the private sector, pensions for government jobs, or pensions in the sense of Social Security.  Most of the talk today is about pensions for government jobs so I'll focus on that.

I believe that there is a serious need to reform pensions for government workers.  These pensions tend to be extremely generous.  They allow people to retire at relatively low ages and at very high percentages of their salaries.  They sometimes have very low contributions by the employees themselves.  These pensions, today, are causing major problems because they weigh heavily on taxpayers.  Governments do not have enough money to pay for the pensions.  Therefore, some sort of reform must clearly be undertaken.

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