how about get away from this welfare system?
social security is just another form of welfare where certain group has to support another group.
in sc, what's the point to have social security as a cost to government.
if you don't save up to your own retirement then you're just screw up all your life.
why not just make a requirement that each person must save say 10% of the incomes for retirement? a person would start working at age say 15 to 65, which is 50 years. if on average a person makes $20k per year, then in 50 years would be $100k saved. if the person spent all that $100k during his non-working years, then he just get terminated/died in sc?
otherwise the government to invest that saving into a fund that pays at least 12% per year base on the country's economy? this should make the retired people lived longer if the country is well managed. though what's the value of having sc retired people live longer, since they are not contributing to the country's economy?