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Old 03-25-2020, 03:49 PM
Melbourne is offline
Join Date: Nov 2009
Posts: 6,320
Originally Posted by Little Nemo View Post
It used to be standard that if you were collecting a pension, the amount you received was set at a specific figure at the point when you retired and began collecting it. Not a bad idea at the outset. But if you were collecting the same amount twenty years later, inflation might have reduced the value of that amount to less than you can live on. .
Particularly during those years in the 70s, 80s when inflation was hitting double figures.

We have been getting a similar whine here in Aus about unemployment benefits. Unemployment benefits are very small, and the program is depressing and de-humanizing. I get that: I've been on benefits. But there's a political meme that benefits "haven't gone up in 20 years" which is just ..... political. (Benefits have been indexed. And rent-relief is proportional). No: "wage increases" are what people who aren't on indexed benefits get. And no: our unemployment benefits have always been very small, depressing and dehumanizing, and you shouldn't need to make up reasons for improving and increasing our program.