I still can't understand how a corporation can have ANY access to pension
funds, bankruptcy notwithstanding. Reinvesting pension funds into the company
or for the benefit of the company would be unethical, surely, if not actually
fraudulent?
We have several not-for-profit funds tied to an industry and not an individual
corporation. They are government guaranteed. The superannuation system is
compulsory and your employer must contribute around 9% of your income. Your own
contribution is variable, depending on choice and/or circumstance.
But...I suppose that's socialism, hey?
Andrew Fildes
afildes@xxxxxxxxxxxxx
On 20/01/2012, at 3:14 AM, Chris Trask wrote:
> Sadly, it was inevitable. More troubling, though, is the mention towards
> the end of the upcoming plight of all of the Kodak pensioners. Unless the
> federal pension bailout system comes to their aid, they will be left out in
> the cold like millions of others. Too bad we don't have a unified pension
> system as they do in other countries.
--
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