(From a recent issue of MoneyWeek, UK.)
Wednesday, March 23, 2011
Who pays the pensions
Many people believe that what they pay in taxes now is being saved up to pay for their pension when they grow old. S'not so, what's being paid now is paying for the current pensioners. And when the baby-boomers retire very soon, there may be a problem, it is a very large chunk of population to have on permanent vacation for 25 years, paid for by much small groups of younger generations.