the.com/pension
a bet that future-you outlives the money present-you forgot to save.
means A regular sum of money paid to someone after they retire, typically funded over years of working life by the worker, employer, or state.
from From Latin 'pensio,' meaning a payment or installment, from 'pendere,' to weigh out or pay — money was once literally weighed on scales. The word arrived in English through Old French 'pension' in the late Middle Ages, first meaning any regular payment or stipend before settling into its modern retirement sense. The same 'pendere' root quietly weighs out 'pendant,' 'suspend,' and 'expense' — all things hung in the balance or paid out.
- first one
- Rome paid retired soldiers in land or coin
- bismarck's age
- Germany set retirement at 70 when few survived it
- word root
- From Latin 'pensio,' meaning a payment
- longevity risk
- Living too long is an actuarial problem
- underfunded
- Many promised funds quietly lack the actual cash
dutch aow state pension — netherlands' universal pension system providing monthly payments to all residents over 67
german rentenversicherung — germany's pay-as-you-go pension system covering 56 million contributors and beneficiaries