Basic Income instead of Pension

[Nova]

A lot of govt and the private companies are trying to reduce the mandatory pension into the retirement plans. And those include the minimum basic income. Like say you get paid some amount like you do in the work. You also be taken care of for the old age healthcare and also the other needs that you have. This is something the govt can do and they can establish a process to manage the pension and other activities too. A lot of times we dont have the process setup and that is where things go wrong as well.

Having basic income made per month can make you pretty much comfortable. It can take care of your grocery, rent, healthcare and also other bills that may come up with time. And this means you are being taken care of from the taxes. I think something like that one can do with the basic income instead of pension as that is responsibility of the govt. Only problem with this model is that people need to be honest for this type of the process to even work. Otherwise we all know that there are scams that may affect as well.

 

[Alexandoy]

If you mean the basic income is to be provided by the government instead of the pension plan then pardon me for saying that it is silly to do that. Think of the effect on the people. They will be lazy and wouldn't care since the government will take care of them when the retire. The pension plan here is only available to those who have made contributions for 120 months at least.