You don’t have to look very hard to see the examples of pensions that have been cut. Most people aren’t aware because it hasn’t affected everyone. This isn’t even limited to the U.S. These examples are from all over the world. California has a particularly big crisis ahead that will be temporarily resolved by simply cutting the benefits. When the Financial Crisis Part 2 comes in full force, this will be the perfect opportunity for those in control to have an excuse to make this happen. Here we go.
World's Retirees Risk Running Out of Money a Decade Before Death - Bloomberg
https://www.bloomberg.com/news/articles/2019-06-13/world-s-retirees-risk-running-out-of-money-a-decade-before-death
As finances improve, Greece scraps pension cuts – EURACTIV.com
https://www.euractiv.com/section/eu-elections-2019/news/as-finances-improve-greece-scraps-pension-cuts/
Russian MPs pass unpopular bill to raise pension age | World news | The Guardian
https://www.theguardian.com/world/2018/sep/27/russian-mps-pass-unpopular-bill-to-raise-pension-age
Retirees risk running out of money a decade before death - BNN Bloomberg
https://www.bnnbloomberg.ca/retirees-risk-running-out-of-money-a-decade-before-death-1.1272545
bc-retirees-risk-running-out-of-money-a-decade-before-death.png (1296×754)
Texas Supreme Court Affirms Cuts To Future Public Pension Benefits | Husch Blackwell LLP - JDSupra
https://www.jdsupra.com/legalnews/texas-supreme-court-affirms-cuts-to-79303/
Detroit bankruptcy: 5 years later, retirees still adjusting
https://www.freep.com/story/money/personal-finance/susan-tompor/2018/07/18/detroit-bankruptcy-retirees-pension/759446002/
Think Public Pensions Can’t Be Cut? Think Again.
https://www.governing.com/gov-institute/voices/col-public-pension-cuts-unsustainable-retirement-systems.html
Benefits rule changes could cost pensioners in UK thousands a year | Society | The Guardian
https://www.theguardian.com/society/2019/jan/15/benefit-rule-changes-could-cost-pensioners-in-uk-thousands-a-year-pension-credit
It just became easier for employers to dump retirees' pensions - CNN
https://www.cnn.com/2019/03/20/economy/lump-sum-pensions-retirement/index.html
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My father has been a Teamster with a Teamster pension for over 40 years. He retired for 4 months before realizing that his pension had be cut so badly that he couldn't survive on the payments. He went back to work and will likely will not be able to retire without help from the rest of the family. He is the hardest working man I know and has been robbed of his retirement. Disgusting.
I vowed to never invest in a pension or 401k after that. I save, preserve and invest my own money with mostly assets. If I don't have enough to retire at 65 it will be my own fault not the fault of reckless regulators and shady investment funds. It's more work for me but I feel far more comfortable being in control of my own money. Tax breaks or not.
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