Of Pensions, and Piggybanks: The Challenges of Ensuring a Secure Retirement

Ellen Dannin | Thursday 27 January 2011

Imagine that every week, decade after decade, you faithfully put aside part of your pay in a special piggy bank to provide for your golden years. But when you are ready to retire, your employer takes all your savings back.

Or imagine that, instead of money, your employer deducts money from your paycheck in exchange for IOUs stamped: "Money to paid upon retirement." But when you retire, your employer says no money has been put aside for you.

You did nothing wrong, but you will not have a secure retirement.