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Brown Cafe UPS Forum
UPS Union Issues
The Boston Bully's New England Pension Fund in the Red Zone!
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<blockquote data-quote="realbrown1" data-source="post: 2193302" data-attributes="member: 46221"><p>It may be specific to ups employees going into the fund, but that money once in the fund, will go to non-ups employees also.</p><p></p><p>That's how pension funds work.</p><p></p><p>That's why, in my opinion, they are ponzi schemes.</p><p></p><p>When you retire, they don't come to you and say that you have X dollars contributed on your behalf by your employer plus that money earned this amount of interest for a grand total of Y dollars.</p><p></p><p>Notice they don't do that?</p><p></p><p>Because all the money goes into 1 pool of money.</p><p></p><p>How you get that money has almost nothing to do with what I mentioned above.</p><p></p><p>Hence, a ponzi scheme.</p><p></p><p>My advice, plan your retirement WITH OUT relying on your pension.</p><p></p><p>If you can do that, what ever pension money you get is pure bonus money.</p></blockquote><p></p>
[QUOTE="realbrown1, post: 2193302, member: 46221"] It may be specific to ups employees going into the fund, but that money once in the fund, will go to non-ups employees also. That's how pension funds work. That's why, in my opinion, they are ponzi schemes. When you retire, they don't come to you and say that you have X dollars contributed on your behalf by your employer plus that money earned this amount of interest for a grand total of Y dollars. Notice they don't do that? Because all the money goes into 1 pool of money. How you get that money has almost nothing to do with what I mentioned above. Hence, a ponzi scheme. My advice, plan your retirement WITH OUT relying on your pension. If you can do that, what ever pension money you get is pure bonus money. [/QUOTE]
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The Boston Bully's New England Pension Fund in the Red Zone!
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