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Brown Cafe UPS Forum
UPS Union Issues
So our pensions are being wiped out .
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<blockquote data-quote="Brownslave688" data-source="post: 1470926" data-attributes="member: 34439"><p>They over promised the current retirees when they were working. Anyone should of been able to see that $50 a week or whatever was not enough for 3-4k a month pension. </p><p></p><p>Now they are dependent on current employees to pay for current retirees pensions. This is not how a pension should work. </p><p></p><p>Every current employee should be able to pull out of the pension and it still</p><p>Be fine. Why because every retiree monies they should be pulling from is already paid in for them. It's a broken system and individuals need to take control of their finances. The last thing any financial advisor will recommend is an annuity. A pension is basically an annuity.</p></blockquote><p></p>
[QUOTE="Brownslave688, post: 1470926, member: 34439"] They over promised the current retirees when they were working. Anyone should of been able to see that $50 a week or whatever was not enough for 3-4k a month pension. Now they are dependent on current employees to pay for current retirees pensions. This is not how a pension should work. Every current employee should be able to pull out of the pension and it still Be fine. Why because every retiree monies they should be pulling from is already paid in for them. It's a broken system and individuals need to take control of their finances. The last thing any financial advisor will recommend is an annuity. A pension is basically an annuity. [/QUOTE]
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So our pensions are being wiped out .
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