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In reply to the discussion: Strong opposition among young people to raising the Social Security retirement age [View all]wishlist
(2,795 posts)16. As other pensions disappear SS is more important
Does the older generation realize that younger people won't be getting generous company and govt pensions as do many current seniors? Only corporate upper management will get any kind of retirement payout as pensions for average folks working for a company 25+ years will be gone. Public pensions have been on the chopping block too. The Federal Civil Service pension system became less generous for newer hires years ago when Feds began paying into SSand Republican senators advocate total elimination of Federal pensions for new hires so SS would be the only pension.
With such low interest rates not keeping pace with inflation, building up enough savings on your own for retirement is virtually impossible now except for higher earners.
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Strong opposition among young people to raising the Social Security retirement age [View all]
eridani
Dec 2012
OP
I think if they simply moved the SS payroll cap up to 200,000 from the current 110,000, it'll be OK.
Selatius
Dec 2012
#15
Let's increase our Social Security paypents and payouts! I can't rely on my 401k to
grahamhgreen
Dec 2012
#25
You raise the age and a lot of these young folks would have to take their parents in
kimbutgar
Dec 2012
#38
Isn't that something that the older people are more ok with raising the age...
midnight
Dec 2012
#40