Is it true Americans don't receive superannuation for the elderly?

Question

That's what I heard it's only heresay if that is true your country is very cruel to old people and deaths only around the corner and you haven't even thought of how to make death more peaceful and less painful for them. C'mon it's like most of you don't have brains and are too self centered to care about the rest of the world.Did you know that the celebrities of America have enough money to cure world poverty? Why don't they? Because your American that's why oh and what am I doing about everything I possibly can unlike you lot.

sorry I didn't mean for the question to come out so harsh don't take it personally

superann is a savings account you put your life savings away for ritirement.

Answer 1

We have a system called Social Security--all employers AND employees contribute a portion of taxes to fund that program.

Unfortunately, when it was created, people did not live as long, and there wqere about 20 workers per retiree. Now its down to about 4 to 1...and getting worse all the time.

Most employers also offer pensions or 401K saving plans for retiremenyt, though.

Answer 2

I'm from Australia - are you ? I think you could have been a little more subtle in your question !
I do think that the Australian government has it right, in insisting that all employers put away a sum equal to 9 % of all workers' salaries , in a superannuation fund, to be collected on retirement. Kids of my kids generation will be millionaires by the time they retire, with that sort of savings scheme.
Different countires have different terms to describe this sort of forced saving. In the US its "social security"....I don't know that it is adequate, but no system is perfect.
And by the way, your comment about celebrities sharing their money around is a rather silly one. 1) not all rich celbrities are American, 2) there is no reason why celebrities should share their money....they earn it like everyone else. You could say the same about the Pope, or the Queen, or the King of Saudi Arabia. The world would be a perfect place if everyone shared everything they had.....but its never going to happen.
Sometimes we just have to accept that this is not a perfect world.
Peace to you on your journey .

Answer 3

Your question has, I believe, been adequately rebuked so I'd like to just give a piece of advice to the wonderful folks in the land of OZ who chimed in...

At all costs and by any means you have at your disposal, keep the politicians AWAY from those funds!!!

Our Social Security system would be OK if the Politicos had not gotten their fingers into the pot by "borrowing" from SS to fund Highways and bridges etc. and then the bureaucrats got into the act and started giving money from the same funds to people who came into the country and never paid into the system.

Now it's going broke and those of us who have paid into it since we were ten or twelve years old get but a pittance and some DO make a choice between going hungry and buying the medication that is necessary to keep on living.

Sorry, I don't mean to rant but I am a little passionate about this because I found out the facts a little too late to really be able to make sufficient provisions for my own retirement.

Answer 4

Guess we are somewhat self-centered, after paying my chunk of Social Security since the age of 16, and investing 5% of my weekly wage for 20 years into a retirement (IRA) account, I find myself with a 'liveable' wage. After groceries, gasoline, utilities and other normal obligations there just isn't a large trove of leftovers. I do however, "share" what I can afford. As Americans we do help others. Perhaps you should look seriosly into contributions that some of our celebrities and "richniks" are into -- might I suggest that you start with Bill Gates -- You have a lot to learn and he would be a good start.

Answer 5

Social Security in the USA is at least as good as anywhere else in the world. The problem, historically, is that healthcare for seniors is rather bare bones, which reduces the effect of the cash payment somewhat. So whoever told you that Americans don't get "superannuation" is wrong. Could the USA do better? Of course they could. So could every other industrialized country and quite a few emerging ones.

Answer 6

We have a program called Social Security which was put in place under FDR. Also, many businesses pay a pension, either lump-sum or a percentage of ones pay. Retirement is to be planned for by the individual, however. I'm 30. I started my Roth IRA in 2004 w/ $3000, and it's now worth about $4800. Mutual funds, etc typically pay 8-12% interest per year.

Answer 7

If you work in America you recieve Social Security Benefits. It's like a superannuation. Most older Americans do not eat dog food and lay in the streets.

Yes, celebrities have money. But, they earned it, why sould they give it to you or anyone else?

You are an idiot. American donate more money and aid than any other country.

Stay in your country and keep your attitude. You are an idiot.

Answer 8

No....we don't. But your preaching to the poor here......somebody lied to the world if they think "Americans" are all living like the movie stars and other rich people. Our streets are not paved in gold....our homes and neighborhoods are not like they show on the TV shows. Please don't confuse the "few" with the "most". It's a fantasy and it just hits a few. Didn't trickle down to us either.

Don't you think we wonder what some kid in poverty is doing with a cell phone when he has a dirt floor? Carrying around a computer and doesn't have a bathroom? How about we chalk it up to lies and political propaganda?

We live in America....and we have Dr's that go to other countries and save those people....while our own die. Just because they advertise it....doesn't mean we all have access to it.

Answer 9

Well Fender, if you're here to make friends your not starting off very well now are you? If you've an observation that America does not take care of their elderly properly, let's say that instead of bashing. I don't think America does respect it's elderly appropriately and I do everything I can to do so. So your assumption that we ALL are less wonderful than you is incorrect.

I don't see your famous folks dishing it out to your elderly either ....Paul McCartney could take care of the entire country, but he doesn't now does he? And let's add that most of your famous folks with tons of money move here to avoid your taxes that do take care of your elderly! Hence they are not being taken care of either!

If you can't phrase things a bit more politically correct, perhaps this isn't the place for you. If you can, great and welcome!

Thanks for that, because criticism of our country is obviously taken pretty darn seriously...welcome! When it's deserved we go with it, when it's not, folks get cranky! lol

Answer 10

We have a number of those sorts of schemes here. Individual Retirement Accounts or "IRAs" (no connection to Irish terrorists), Roth IRAs, Kehoe accounts and other deferred compensation accounts. My wife and I have such an account.
The bitter part of retirement income derives from changes made to our tax laws in 1991. Until that point in time, military retired pay was not considered to be outside income when it came to determining the taxability of one's Social Security check. But, the change in law has put me in a situation where 85% of my Social Security check is considered taxable income. And that's from a fund I had been paying taxes into since age 11.
As for the other issue, money isn't going to cure poverty. Large swatches of land have to be reclaimed and made usable to grow crops. Climates in many countries have to be artificially controlled so worker productivity can increase in the work place. Poverty is eliminated by wealth creation within a nation. Not by forced re-distribution of wealth. That's why the U.S. succeeds and Karl Marx lies in a pauper's grave paid for by his fellow Marxists in the U.K. That "brilliant economist" died broke!