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IPFS News Link • Pensions

"I Thought This Deal Was Absurd, But Pensions Are Piling In..."

• https://www.sovereignman.com, Simon Black

These pools of capital, responsible for paying out retirement benefits, are terribly underfunded. So anyone depending on a pension in their retirement years should seriously consider a Plan B – and sooner rather than later.

We aren't alone in sounding the alarm on pensions.

The World Economic Forum reported that in 2015, worldwide pensions were underfunded by $70 TRILLION. That is larger than the top 20 economies in the world, combined.

In the US alone, federal, state, and local government pensions are $7 trillion short on the funding they need to pay what they have promised.

And none of this includes Social Security's almost $50 trillion of unfunded obligations.

Even the private sector isn't in great shape. US corporate pensions are a combined $553 billion in the hole. And one quarter of those funds are expected to go broke within a decade.


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