The current pension system is broken, flawed and outdated. There are just so many anomalies in the system that a person can be expected to work well into their 70s just to keep food on their table because of companies not having pension policies or adequate care for their long-term employees.
In place of pensions, companies’ advice employees to open up retirement accounts; this basically suggests that employees should manage their own retirement funds, often times without help from their employers. Once an employee reaches a retirement age, these accounts are used to supplement what Social Security might pay.
What are pensions?
Pensions are simply giant pools of capital that is used to pay out the retirement benefits –in the form of money- on an interval-basis to long-term workers.Employers and employees contribute a percentage of their own salary (knowingly or unknowingly, depending on a company’s pension policy) throughout their career, and upon retirement, the pension is supped to pay a fixed amount monthly.
Boston College estimates that 1,400 multi-employer plans are facing a close to $550 Billion dollar shortfall, and is expected to fail.
What is Akropolis?
Akropolis is a platform that is designed to address the major, deep-seated issues in the pensions sector at a global scale. Akropolis is designed to be a multi-jurisdictional platform that delivers pensions, social welfare and future benefits in a more convenient and portable manner. This platform brings together and incentivizes end-users and large institutional players.The problem
The current pensions system is not only based on outdated assumptions and cold facts, it’s also rife with lack of transparency and accountability. Akropolis helps, from the ground-up, in designing solution that fit human being’s needs.The Solution
In order for this system to work, firstly, two aspects need to be brought closer together into a single, coherent protocol and create a future-proof solution that takes into account things like how people work, how they work and consume and how their function.The Akropolis program provides a productive gateway between both specific users and institutional pension money, and the account/asset professionals who traditionally supervised pension ventures. The finance/asset manager's carry out on the machine is enforced through lots of incentive systems to acquire an optimal final result for all individuals.
Final Words
The Akropolis program provides benefits for specific users, who create and deal with pension accounts on the system, and then for Pension Cash (PFs), who deal with many pension accounts with respect to individual clients. Account Professionals (FMs), who control assets and offer pension products to PFs, also stand to reap benefits by taking part in the platform. Today's section outlines the features and benefits associated with the Akropolis platform for these different classes of individuals. Additional information regarding these features are elaborated in the areas that follow.At the end of the day; with so many impractical solutions on the market, Akropolis is taking initiative to help improve and reimagine the pension system for companies and individuals, a step that helps improve countless lives.
For more information about the Akropolis Platform, please visit the following:
Website: https://akropolis.io/
Whitepapers: https://link.akropolis.io/whitepaper
Twitter: https://twitter.com/akropolisio
Telegram: https://t.me/akropolis_official