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Who got the retarded idea that companies should give people pensions? Pensions are supposed to be either tax financed or reliant on the savings of the individual, or both.

Sure, we have pensions from companies too as a part of out pension system, but IIRC they are dependent on wage and shunted into special funds which the company can't touch. Of course, they can lower the pension from work done going forward, but can't touch the stuff which is already in the funds, given as a compensation of past work.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Sun Apr 27th, 2008 at 04:38:33 PM EST
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Who got the retarded idea that companies should give people pensions?  

Pensions are part of the compensation to workers for--you know--working.  

The company could have paid higher wages, but chose to promise to pay pensions instead.  When companies reneg on pensions, they are stealing, literally.  Unfortunately the courts do not mind.  

The Fates are kind.

by Gaianne on Sun Apr 27th, 2008 at 09:02:23 PM EST
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They are only stealing if they take back pensions that have been promised for work already done. This is what I am saying. Creating a system where companies are put in a situation where they can/have to do that is insane.

Cutting future pensions from work being done in the future is not stealing, it's cutting wages. The same thing as raising nominal wages less than inflation.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Mon Apr 28th, 2008 at 05:29:04 PM EST
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