nusa on Nostr: Where I’m from, when millennials mention they don’t expect to ever get any ...

Where I’m from, when millennials mention they don’t expect to ever get any pension from their mandatory payemnts into the system, the older generations mostly agree that it doesn’t look great, but their answer is that we now have this extra gov-run fund where you can invest additional money into your own retirement with a tiny tax deduction incentive. And I ask if they have ever looked up their portfolio and they look at me funny when I say why would I pay into a fund that will buy local government and government-owned businesses’ bonds with this money and tell me it’s all taken care of. It’s a great plan to distribute government debt, but not a great retirement plan. That part hasn’t sunk in yet.