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Larks comments on Why is it rational to invest in retirement? I don't get it. - Less Wrong Discussion
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Comments (113)
Which dystopian state is this, that caps retirement payouts? I can understand corrupt states stealing retirement money, but having an actual policy that none may have more than that?
I suspect that the OP is talking about what would in the US terms be called "defined benefit" plans -- as opposed to "defined contribution" plans (like 401(k), etc.)
This is Brazil. I've checked now, and indeed: A aposentadoria pode variar de R$ 678,00 (salário mínimo) até R$ 4.159,00 (valor máximo corrigido anualmente). 10 Brazil reais = 4.93754 U.S. dollars
Is this not like this elsewhere?
Is anyone open to negotiating a formal marriage by the way? message me. I generally fear that maybe states will pay for longevity stuff, and my citizenship will put me out of play. Also, I want to live in Berkeley or Oxford.
I suppose the cap limits the pensions provided by the state and you can in principle buy a private life insurance to increase the payoff, right?
Sure. Though I thought life insurance means something you get when you die. We have private enterprises that do retirement plans too. Maybe that is what you call "annuities", or not.
Annuities refer to a fixed stream of payments for an extended term(life or a defined term, depending on the annuity). There's also conventional retirement accounts, that are just a big pile of stocks and bonds that you sell when you want cash. Neither is capped in any non-Communist country I've ever heard of.