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State pension in Ireland for most of us wont kick in until we are at least 68!

El Chaval.

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Surely there is fraud- but it is not the norm. Most asylum seekrs will actually contribute to society in the long run.
Since you are in Derry, you are in the UK. Ever had a look at your MoD budget? Are you aware how much Trident costs?
Plenty of money there which could go into the pension pot.
Absolutely, which is why I don't blindly oppose austerity.
I think austerity is good if the right stuff is chopped.
Not just fraud. Workers are funding the lifestyles of the feckless legally also.
 

El Chaval.

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Anybody escaping from war zones like Syria is not necessarily a high flyer. But I understand your thoughts- anybody who is in bed with the Butcher of Damascus would talk like yourself.
How many Syrian Christians are in Ireland? Probably less than a hundred.
Meanwhile, how many Nigerians are in Ireland? Probably over 25 thousand.
 

TheWexfordInn

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This is not surprising at all. The total debt of Western Governments when unfunded liabilities are included is eye-watering huge.
It is a mega Ponzi scheme - the Pension and Social Welfare systems are only sustainable if there is a continuously increasing number of Tax Payers out there to pay for it instead of which we are on a trajectory where the number of people paying into the tax system is going down and the number of people looking for handouts from it is going up.

Within a decade or two I can see the idea of the state pension disappearing - there just wont be the money there to pay for it.

I say good on the Government for making this announcement in that it might scare people and encourage people to put their own money away to provide for their own pension.
 

Olli Rehn

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This is not surprising at all. The total debt of Western Governments when unfunded liabilities are included is eye-watering huge.
It is a mega Ponzi scheme - the Pension and Social Welfare systems are only sustainable if there is a continuously increasing number of Tax Payers out there to pay for it instead of which we are on a trajectory where the number of people paying into the tax system is going down and the number of people looking for handouts from it is going up.

Within a decade or two I can see the idea of the state pension disappearing - there just wont be the money there to pay for it.

I say good on the Government for making this announcement in that it might scare people and encourage people to put their own money away to provide for their own pension.
Private pension shemes are even a bigger ponzi sheme. They are actually an open invitation to fraud.
Did you not learn anything out of the recent financial crisis?
A lot of that speculation money going around is actually private pension money. Never in the history of mankind did we have that high number of pensioners.
 

TheWexfordInn

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Private pension shemes are even a bigger ponzi sheme. They are actually an open invitation to fraud.
Did you not learn anything out of the recent financial crisis?
A lot of that speculation money going around is actually private pension money. Never in the history of mankind did we have that high number of pensioners.
]

Yes I do think that Private Pension schemes will take a big hit when the wheels start coming off as the pretence that we aren't running a ginormous Ponzi scheme becomes parent and the value of the Government Bonds/ Stocks / Property they hold take a hammering.

I have thought about this and have concluded that I will keep paying into my private pension in that although the value of the fund will likely collapse at some point as it will not collapse to nothing, there will be something there towards paying something out in old age when the state has ceased paying out anything.
 

Olli Rehn

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]

Yes I do think that Private Pension schemes will take a big hit when the wheels start coming off as the pretence that we aren't running a ginormous Ponzi scheme becomes parent and the value of the Government Bonds/ Stocks / Property they hold take a hammering.

I have thought about this and have concluded that I will keep paying into my private pension in that although the value of the fund will likely collapse at some point as it will not collapse to nothing, there will be something there towards paying something out in old age when the state has ceased paying out anything.
I would not put my trust into private shemes alone.
Your pension entitlements are not gone when a state goes bankrupt. Germany went down twice in the last century- but none of those folks who paid into the state pension lost their money.
 

GodsDog

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So they want to kill us off before we even get to retirement!
Well if you don't already understand how the system truly works i.e.that we are all basically willing slaves
who work until we are no longer useful as cheap labour or consumers then politely die
then you haven't been awake have you?
 
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