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Talk:Pension

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Latest comment: 2 years ago by 88.97.62.77 in topic Fundamental definition is wrong

Fundamental definition is wrong

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The page starts with "A pension (/ˈpɛnʃən/; from Latin pensiō 'payment') is a fund into which amounts are paid regularly during the individual's working career, and from which periodic payments are made to support the person's retirement from work." This isn't always true. The UK state pension for example is not based on a fund. Current payments are made from general revenues. There is no direct connection to the national insurance payments made by the recipients or by current contributors and which are supposedly used to pay for it. The total paid in is notably smaller than the total paid out!

The pension schemes of some state enterprises do not have a fund behind them either. Others do, as do private schemes.  Preceding unsigned comment added by 88.97.62.77 (talk) 17:27, 6 December 2023 (UTC)Reply