Post
Topic
Board Economics
Re: Breaking news: Poland confiscates private pension funds
by
squidface
on 07/09/2013, 07:04:50 UTC
You've wrote first "fake" then edited with new text.
I misinterpreted. I was thinking they confiskated private money, while it wasn't.

That's difference between Cyprus.

Yeah. This is not at all the same as Cyprus. Not at all.

Cyprus = state takes private money for itself.

Poland = state takes pension money from private pension funds who manage it on behalf of private individuals so that it will be managed by a state institution instead. On behalf of the private individuals.

Ok, if you've got an anti-statist thing going on ideologically, sure ok, you might see this as a problem. But there's no sense in which the money has been taken from the people who it actually belongs to ie. the people who are supposed to get paid out by the pension.

Sure, that could happen later. But that's not what's happened here.