Does The Budget Of A Country Have Any Effect On Pensions?

[Good-Person]

Well, we know that the budget of a country is quite important. This is why there are so many people may depend a lot on the budget of a country. The government announced pension rates when they release budget. Having said that, many different governments may have different policies related to this. So, when it comes to pension rates, do you think that budgets could play a role?

 

[Grant]

I don't think it does, but please correct me if I am wrong. I don't think you lose out on your pensions if the countries budget is off. If anything pensions are usually paid by you and your employer, so that money is there for you to use as you please. It shouldn't be attached to the budget of a country. I don't think it works out to the budget of a country though.

 

[Kane]

Pension is a part of administrative expenses. During the annual budget announcement, the government will always increase budget for administrative expenses, thus, sometimes the amount of money you receive as a pension might also increase (in case the government increases the salary of its staff)