Supposedly, pension age has to be increased, warns IMF - Fuck off IMF, once and for all - Who the fuck needs you anyway?

THE life expectancy of 60-year-olds in Australia is increasing at the rate of nine years every 50 years, threatening to overwhelm the sustainability of pension schemes and retirement funds, the International Monetary Fund has warned.

Supposedly, pension age has to be increased, warns IMF - Fuck off IMF, once and for all - Who the fuck needs you anyway? Ipad-art-wide-elderly-420x0

Supposedly, pension age has to be increased, warns IMF - Fuck off IMF, once and for all - Who the fuck needs you anyway? Ipad-art-wide-elderly-420x0

In a tough message to governments, the IMF has told them to move fast to lift the pension age in line with rising longevity - and allow retirement funds to reduce retirees' benefits to match the income available.

In an early chapter from its half-yearly Global Financial Stability Report, to be released next week, the IMF says that, in just 20 years, life expectancy in Western countries, including Australia, has risen by three years more than was forecast at the time.
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While this ''has obvious benefits'', the IMF says, it also has less obvious costs - and they could be massive.

''Unexpected longevity, while clearly beneficial for individuals and society as a whole, is a financial risk for governments and defined-benefit pension providers, who will have to pay out more in social security benefits and pensions than expected,'' it warns.

''It may also be a financial risk to individuals, who could run out of retirement resources themselves.

Read more: http://www.smh.com.au/national/pension-age-has-to-be-increased-warns-imf-20120411-1wsdd.html#ixzz1rufZCFM4

Supposedly, pension age has to be increased, warns IMF - Fuck off IMF, once and for all - Who the fuck needs you anyway?

Supposedly, pension age has to be increased, warns IMF - Fuck off IMF, once and for all - Who the fuck needs you anyway?

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