In The Future of Leisure and Retirement, veteran anthropologist
Niccolo Caldararo explores social support for the elderly in
cross-cultural and historical contexts. Beginning with a comparison
of various cultural traditions developed in complex societies from
ancient times to modern, this vital new book argues that how a
society values its aged citizens and views their contributions to
society determines its willingness to provide for their support.
Recently, an increasing number of U.S. companies have raided their
pension funds to stay afloat or have closed them and transferred
liability. Major changes to U.S. federal laws concerning pensions
and the responsibility of corporations to fund them have been made
under the Pension Protection Act of 2006. Worldwide, workers'
retirement payments are under assault, as are investments by
pension funds due to laws governing priority of payment. The need
for retirement support of some kind in the post-Covid-19 world will
require new forms as well as the recovery of pre-Covid-19 savings
and investments. Caldararo concludes that sweeping changes in the
law are necessary to increase the stability of our modern
retirement system.
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