alt Hacker NewsThe whole pension fund concept only works because it declares how much is going to be paid out.
Who’s going to pay in if the fund expects a guaranteed commitment but refuses to give such in return?
Replies
arjie • today at 4:09 AM
It’s called a defined contribution pension as opposed to a defined benefit pension. They exist.
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ericd • today at 4:07 AM
401ks don’t guarantee results for a given amount of input, and people still stuff away lots into them?
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> Who’s going to pay in if the fund expects a guaranteed commitment but refuses to give such in return?
Literally defined contribution [1].
[1] https://en.wikipedia.org/wiki/Defined_contribution_plan