What will replace pension funds in your idea of this? Or will anyone not capable of producing for the corporation just have to provide for himself?
Probably anyone over 65 would just die after being kicked out?
By the way here in my country many of government held companies have been privatized charge more and are even less efficient than when the government handled them, I commented about this on another post and the OP said it was probably because they were sold to government cronies, which is fair enough, but a couple of them were sold to foreign corporations and still don't work well.
Don't think I am against what you are saying but I do believe we have to think about every aspect.
Don't think of libertarians as being greedy heartless people. Actually our solution is much better in the long run. While it may cause some problem in the short run, it's easier if it's abolished completely as it is.
People will have 2 options, either manage the money themselves and invest on their own, or invest it in a private pension fund that will manage it for them. People could choose based on their risk appetite which one suits them better.
Now I would rather invest my own money myself, I am a good investor, I make +247.6197% profit in 1 trade ,that took about 10 days. Government pension funds are actually making negative returns yearly, because they invest in negative yielding bonds.
You can't even compare the two. I mean I could retire in just a few short years if my investments go the way it did so far. And I'm below 40.
Why would I have to pay 10-15% of my income on pension contributions, that generate negative yield, and run exactly like a Ponzi Scheme? If I were not forced to of course.
Yes, either the companies are cronies, or it's the entire financial system that sucks.
Pensions are invested in negative yield bonds. It's not just that it doesn't make any profits, it actually loses money. It's literally worse than a Ponzi Scheme, at least the Ponzi Scheme doesn't lose money, it just reallocates it.
Besides what is this government appointed pension manager? That is not very free market to me. If it's still a government fund, but privately managed, that is not the same as having 10-20 private pension providers that are not involved with the government.
To answer your question: A blockchain based decentralized pension fund with cryptocurrency investments would be the best in my opinion, or manage your own money. Fuck the negative yields, and fuck the sloppy 1% interest rates. It should be 20% minimum / year (and with no inflation).
I understand your point of view, but then I would ask, who would be in charge, libertarians? No it would be the people who have the means (money, land whatever), and they wouldn't necessarily agree with you.
Look what I am trying to say is whatever one may want there are forces out there that are very powerful and they will always have followers because they can buy people, not with ideas, but with something more concrete like money, and I can assure you many people prefer to go the easy way even if they end up hurting at the end.
I really think this should be considered.