Living to 120 is becoming an imaginable prospect::undefined
How are we supposed to afford paying pensions that long if people retire before 70?
Their work amounts to sitting in a hearing non-coherent and voting yes when an aide tells you to. Real people on the other hand spend all day actively doing work for pennies.
By properly taxing companies and rich individuals? Besides, those leaving to 120 would most likely be among the richest of us. Do they really need a pension at all?
By fully funding them. The return from a lifetime annuity bought at 65 is just marginally higher than a reasonable expected safe return from the same investment. (A lifetime annuity pays out on the basis that the provider needs to guarantee an income until you die, so if it returns so much that it eats too much into the capital, it’ll be unprofitable for the provider). At the margins, the expected remaining life years of someone at 65 in a developed country is long enough that you can’t safely offer that much more without eating away too much at the capital too quickly.
I would advise to look up some information yourself. You can either read about the pilots and their results or find a video if you prefer that format.
And these final things to consider:
- optional != won’t be done
- work isn’t just one definition: housework is unpaid for example but it is still work
- UBI doesn’t mean all expenses are paid for, it’s “basic” - luxury goods like iPhones aren’t “basic”
- it’s a complex issue, inform yourself with pro and contra sources
