UnThreaded | Threaded | Whole Thread (150) | Ignore Thread Prev | Next
Author: Aranknitter Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 740421  
Subject: Re: OT: On Fixing Social Security Date: 6/21/2004 1:52 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0

Keep in mind that currently, if a person marries 3 times, each time for the required minimum period, to a person who NEVER works, each of these (non-working) persons is entitled to 50% of the working persons SS bennies--that's 150% of the benefit! Surely some re-thinking has to be done in areas such as this--I use this situation only as an example (but I do know ex-wives who are benefitting from this provision).

Reforming this won't be popular though. I believe the British state pension system already has this limitation in place... only the first wife can collect on the husband's pension record. Not subsequent ones. I'm not well up on the provisions admittedly, as this doesn't apply to me... neither my husband nor I have exes lying around in our past. However, my father has been married 3 times. When my first stepmother divorced him, I think she was pretty pi**ed that she wasn't able to claim half his state pension as his first wife (my mother) was already claiming that. She'll have to wait for my mother to kick the bucket before she can claim on his pensions record.

And Americans divorce at a higher rate than Brits I believe. Can you imagine all the outraged 2nd and 3rd wives?
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (150) | Ignore Thread Prev | Next

Announcements

Post of the Day:
Value Hounds

Kate Spade's Wild Ride
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement