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Can someone ELI5 why pensions exist for jobs that aren't expected to beat your body in to disability through the course of service? I get it for super physically demanding stuff where injuries are high, like firefighting and infantry but why for postal workers & teachers?

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Jesse Powell

@jespow

Replying to

@decentraltrader

Why not pay them market rate and let them sort out their own retirement like everyone else?

5:17 AM · Aug 17, 2020Twitter Web App

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Eiaine@bitcoinhackers.org

Replying to

and

because the employer doesn't have the cash to pay market rate up front. it's like social security, a pyramid scheme to promise future payments for work done today.

Jesse Powell

@jespow

Aug 17, 2020

If they don't have the cash now, what's the plan to get more cash later? Shouldn't not being able to pay people market rate be a sign that they need to sort out their business model? Raise prices or reduce services or whatever a business does? How did this ever get to be a thing?

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and

because there are millions of stupid people that need to be led. if they weren't led, their ill-planned retirement years would cause a heavy economic burden on the rest of society