3/20/14
http://www.bbc.com/news/uk-politics-26649162
Great Britain
There are worries about how people are going to spend the money they receive from pensions. They are being allowed to spend the money however they want when they come to the age of retirement. Chancellor George Osborne says that the pensioners were, "responsible people who are capable of making decisions about their future." Numerous other people were mentioned in the article saying that they will spend the money on useless stuff or all at once or invest it and risk losing it all. The other side of this, the Labour party say that argument is not true and should be used against the new law regarding pensions that has been passed.
I personally have no idea what exactly pensions are or how they work. What this sounds like to me is a trust in the people that they will be smart and not cause a pain to the government after the government decided to help them. That can be a huge gamble by the government to let them be free with their money. I wonder that after awhile they would have the means to be able to tell if they spent it wisely or not? Maybe their will be an increase in number of people that need government support. I don't think I could really trust the majority of people who get money without working for it to spend it to help out their future over their immediate desires.
Why do people care so much about what other people do with their money? They can't be contributing or hurting the economy that much with their pension money.
ReplyDeleteHA. I feel like this could be easy for some people and hard for others. But i am with Roon, why in the heck does it even matter what they are doing with THEIR money anyway. It's not like they are harming them in anyway.
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