Our big 3 news networks arent news they tell you how to feel . Its not news when you give commentary . It is news when you give facts . So this isnt new . The fact that liberals beat conservatives to the punch on tbe the internet makes sense bc they are more technologically advanced overall <| sep |> You and metacanada regulars should have a debate to determine whether I ' m altright or a SJW . I ' ll be eating popcorn in the meanwhile . <| sep |> Sure , a private pension is like this . The national pension is not . My grandmother didn ' t pay into her state pension with her taxes , her taxes went on her grandmother ' s pension and on whatever public spending the government was doing at the time . Correct None of my taxes are being saved towards my pension , my taxes are paying for my grandmother ' s pension plus public spending today . Taxes fiscal transfer from working to non working . Invested into next generation , plus future growth . Indirectly saving money for your own pension by creating future income . How it works to my own understanding . This model worked fine when there were loads of people in work and people generally not surviving long after drawing a pension . Now nearly 30 % of the UK is at retirement age and they live on average 20 years drawing a pension . UK retirement population is 18 . 5 %, Japan is 25 %. So how come Japan pension system still works ? Even with oversaving . Current model is inefficient in UK , many unaware of risk . Many not saving enough to counter that risk . United Kingdom funds are inefficient due being smaller . Money is wasted on fees . We ' ve been screwed over because the government didn ' t put the money aside in the past Invest enough money into public services or invest . Creating enough growth to fund the system . Decided to cut taxes giving away billions . Without reviewing the benefits to cost . Most funds underestimated risk , got worse returns than expected . Government did the same thing just on much bigger scale . Underestimated how many older people would appear . Pension funds are not low risk . Why some have major shortfalls . What ' s more , is that the expense means it won ' t exist for me , but the government refuse to cut pensioner benefits because they actually vote . Expect pensions to decline or disappear . Replaced by costly system which gives you worse pension . Only the poorest are given state pension . Not because of the expense but political truth system costs to much . With politicians unwilling to fund the system . Should add giant disclaimer next time I could be wrong . Based on my limited knowledge .