CHFD 3710 - CHFD 3710 Critics of public income security...

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CHFD 3710 Critics of public income security programs for older people ignore the fact government programs created the older population’s current well-being Without public pension plans, a large proportion of older people would live in or near poverty. Public pension plans ensure that everyone will have income security in old age. Private pension plans help people replace the income lost when they retire Very old women have some of the lowest incomes in the country Income inequality reflects a lifetime of discrimination and limited opportunities in the workplace In the cities, injuries,unemployment,and old age could put a sudden end to a worker’s career Otto von Bismarck, chancellor of Germany, put the first national pension plan in place in 1889. The plan combined old-age and unemployment insurance. Workers and employers paid into the plan By the early 1900s, Denmark, New Zealand, and Britain all had old-age security programs.
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