Pension Scheme Quotes

Social Security is a cruel hoax … unjust, unworkable … and wastefully financed.

The myth is that people get their money back from Social Security. Not true. You get somebody else's money back. This is an intergenerational transfer.

Every citizen will be able, in his productive years when he is earning, to insure himself against the ravages of illness in his old age.

The Social Security Trust Fund should not be trusted and it is not funded.

The U.K. is one of the few places in the world that has final salary pensions.

Government welfarism, with its ever-increasing army of pensioners and other beneficiaries, is fatally easy to launch and fatally easy to extend, but almost impossible to bring to a halt - and quite impossible politically to reverse, no matter how obvious and catastrophic its consequences become.

When hard-working Brits hand over a chunk of their pay cheque every month so they can look forward to a decent retirement, they are expecting bosses to look after it. That's something you should be able to take for granted.

The retirement age needs to be raised. A portion of Social Security ought to be privatized, if not all. And there probably needs to be some means testing. It's a Ponzi scheme that's not sustainable.

I know that plenty of folks have issues with Social Security, but I'd urge them to confront it on its own terms. Calling it a Ponzi scheme is misleading and does more to cloud the issue than it does to illuminate it. And yes, I do know that unless changes are made, the current system is unsustainable. But that doesn't mean it's fraud.

Social Security is a government program with a constituency made up of the old, the near old and those who hope or fear to grow old. After 215 years of trying, we have finally discovered a special interest that includes 100 percent of the population. Now we can vote ourselves rich.

You don't have to talk to me about pensions. I won't be around long enough to collect one.

Germany, I think, was first to substitute a Social Security program for its elderly based on this premise, that is, that we would tax workers to pay retirement benefits for those retired.

Since 2012, automatic enrolment has brought millions of people into a workplace pension for the first time, thanks to the support of businesses and employees across the UK.

The real sin with Social Security is that it's a long-term rip-off and a short-term scam.

Social Security is fundamentally strong.

Many governments have faced the proposal of One Rank One Pension but no solution has been found yet.

Social Security may be the most beloved of all the government's programs, partly because it requires so little thinking. You pay taxes while you work, then you and your spouse collect until you die.

The government took a decision to implement 'One Rank, One Pension' for defence personnel in 2015 and promised to pay arrears in four instalments. I can say that all OROP arrears have been cleared, with over Rs 10,788 crore being spent.

Pension: An allowance made to anyone without an equivalent. In England it is generally understood to mean pay given to a state hireling for treason to his country.

For those of you who believe in the Social Security Trust Fund, you can’t trust it; there is no fund, and no one is secure …. A Ponzi scheme.

Live long enough and you'll come into pensions, a lovely thing. Presents every month from people you didn't know cared.

Social Security faces financial problems down the road because of demographics.

The welfare state is predicate don collecting money from today's workers in order to pay for those who paid in before them. But today's workers don't have enough money to sustain the scheme, and there are too few of them to do so. As a result, virtually every welfare state in Europe, and many American states, like California are going broke.

I assure the ex servicemen that One Rank One Pension has been accepted in principle but it is in talks. We want to get a solution which is acceptable to all. Discussions have come to the final leg, we hope for a positive result.

But while the state pension is a critical foundation for people's financial security as they age, it must be supplemented with other forms of retirement income.