Pensions: How They Work, And Why They Don't!
(Key: Rob’s comments in italics, Derek’s comments in normal font)
Our topic today is pension plans, how they're supposed to work and why they don't.
Historical Context of Pension Plans
Historically, the majority of people had pension plans that were arranged by their employers. There were a few small independent professionals, like solicitors and accountants, who made their own arrangements. The idea, of course, was to provide an income for when you were no longer able to work or no longer wished to work, adequate to support a lifestyle in line with what you had when you were active. The…
The skinny
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