Wednesday, June 27, 2007

Stop Tampering And Tinkering

Tampering And Tinkering With Our Retirement Funds Are Not Allowed
At first, it was age 55 and you could withdraw the whole entire savings of yours (which truly should be yours as it is a sum total of you and your employer's contributions).

Then it was age 55, plus a minimum sum to be kept aside till age 62, before a monthly stipend is meted out for another 20 years (assuming you live to be that old).

So what is it with an extension till age 65?

One gets a feeling that like a run on a bank, there is an inability to fulfil all the withdrawal obligations, that is why.

And what business of yours is it that you should take hold of money that isn't even yours in the first place? Save for we all know to be in the scheme of "money makes the world go round" thingtummy.

A savings plan which pays a measly return anyway, once you account for inflation.

And now to with-hold it even longer.

Tampering and tinkering are not allowed.

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