> and it doesn't run out like a personal pension does. You just get the monthly amount as long as you live
It doesn't run out? What's this magic infinite money? It doesn't run out because when it runs out other people are working for you. It's a great system that exploits the young to benefit the old that didn't save enough. The new system removes the magic and you have what you saved.
The people that live longer benefit from the ones that don't, but it's about reassurance, it's not an investment. If they had lived longer they'd have had that reassurance too.
It doesn't run out? What's this magic infinite money? It doesn't run out because when it runs out other people are working for you. It's a great system that exploits the young to benefit the old that didn't save enough. The new system removes the magic and you have what you saved.