Not all countries have our baby boomer social security problem

Wednesday 14th October 2009, 12:00PM BST.

NOT all countries face the same challenges as Guernsey in relation to the value and allocation of their pension funds, according to Social Security minister Mark Dorey. 0855047

Speaking during the first International Social Security Association event to be held in the island, Deputy Dorey said the two-day conference, attended by around 40 delegates from different national social security institutions, had provided an interesting insight into how others operated their schemes.

‘Not all countries are having the same challenges as us. Quite a lot of countries from the less developed parts of the world have investment restrictions in place, which mean they have to invest their funds within their own country.

‘And others have much younger populations than us so they can take more of a short-term view.

‘We are facing the significant challenge from 2012 because of the increase in the number of pensioners compared to the number of people entering the workforce, as a result of the post-war baby boomers.’

The event was organised by Issa with the assistance of Guernsey’s Social Security Department.

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View more: Mark Dorey news, Pension Funds news, Social Security Association news.

1
John Sweet

October 27, 2009 at 5:53 pm

Baby Boomers in the United States would have no funding problems at all if the approximate 600 idiots running the country in Congress had not spent the trust funds.

The rates were raised in the early 80′s after Congress admitted they had spent all the funds collected from the boomers and assured the public all future FICA funds would be in a locked trust box. Of course, the idiots have spend it, so now the Baby Boomers are to blame?
I THINK NOT!! The boomers have paid twice and been cheated, sent to war and been abused for it and led down the path in search of the holy grail. But now? Boomers are ready and will NOT stand for any attempt to remove the entitlements they have paid twice for. Next Generation: Don’t let it happen twice to you but prepare to cough up! Otherwise it’s generational political warfare on the horizon in America.

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2
CheesedOff

October 28, 2009 at 1:14 pm

Stop blaming the older generation for Social Security’s shortcomings. These people have worked hard all their lives and should now ben entitled to the help they deserve.

Sort out the single mother who are pulling the wool over Mark Dorey’s eyes. I have been in Social Security and heard with my own ears a single mother advising another single mother to claim for a new buggy. The first mother had done this herself and received a brand new buggy which she admitted she didn’t even need as hers was fine. She sold the brand new buggy for £50 so that she could have a night out on the town.

Why do these people get away with this? Why are the sob stories believed? When will there be a states run creche so these lazy scroungers are made to get jobs?

Also while I’m on the subject Social Security are long overdue in needing to make being on benefits far less attractive than getting your backside into gear and going to work. The queue tomorrow morning of designer layabouts with the latest gadgets will be receiving more in benefits than they would by working.

THIS HAS GOT TO STOP MARK DOREY.

Us taxpayers are fed up to the back teeth with subsidising the scroungers. Yes there are deserving cases out there but they are few and far between.

Mark Dorey – wake up and smell the coffee.

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