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Old 21.11.2018, 09:31
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marton marton is offline
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

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You really have no clue what you are talking about, right?
The main difference is that pensions in a country like Italy are paid by the next generation whereas in other countries (let's call it system A), people save for their own pension savings (like in a 3 pillar pension fund - call in system B).

Switching from A to B is an extremely painful process. Changing from B to A means that you are stealing people's savings.
If by a 3 pillar pension fund you mean Switzerland then the first pillar is not paid from savings but from current year income which is why they always propose increasing VAT to pay for changes. So system B does not exist!

It is no different from any other country where the Govt. pension is "pay as you go" plus there tax incentives to save for your old age.
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