Pensioners – Orphans Of Their Own Industry?
GANDY GANDIDZANWA & ITAI MUKADIRA
The Defined Contribution system has been faulted, rightly or wrongly so, on many fronts. To imagine it though being blamed for not taking real care of its very own, at the time of their most need, feels more like an imagination overstretch. Sadly, it is the reality.
Forty years on, following those mass conversions from DBs to DCs of the early 1980s, we can now studiously scrutinise the cogs and gears that is the engine room of the DC system for a clinical diagnosis of its faulty lines. What becomes immediately apparent from such an investigation is that the system’s problems are more structural than mechanical. We fitted the wrong engine into an engine bay and framework designed to power a totally different engine type altogether. The wiring problems we are grappling with today, trying to fix in isolation, are only but the results of an acute engineering problem whose roots are deeply engrained in the conceptualisation of the system.
Let us explain. …Pensioners – Orphans Of Their Own Indusry (1)
