Start with the problem:
People generally know that their national pension or Social Security benefits will not be enough to support their retirement life. An analogy of this situation would be similar to a massive passenger ship, except it would be a massive financial pension ship holding at least 30 national pension systems that will be facing dire stress and potential economic collapse of a nation. These old financial pension ships are leaking money and earning strength. The cost of maintaining a pension system is eating away pensioner’s future earnings.
If this was a real passenger ship the rescue mission would be to send out a 2nd ship to rescue the passengers from the sinking ship would be the most logical strategy. This 2nd ship would have to be a smart financial pension ship, built to last longer and with better stability to accommodate better benefits than the current national pension systems in the world. The 2nd ship would cruise beside the 1st ship for passengers can transfer over to the safer and stronger 2nd ship. With advanced technology and a decreasing population, developing a better financial pension ship is a huge must and an overwhelmingly strong need.
My startup idea is to build that 2nd ship, the ‘Younger Sister’ version of a national pension. I know what are the necessary components to build a smarter financial pension platform.
The Benefits: Some benefits that would be built into a new retirement pension platform.
1. At age 50, people will receive their full benefit in one lump sum bank transfer or check.
2. All people are eligible regardless of resident status, visa status, age, tourist
3. All proceeds will be transferred to a benefactor. If the account holder passes away.
4. People will be able to monitor their pre-retirement pension plan through their phone app.
Just to clarify:
This is NOT promoting new taxes.
NOT trying to privatize Social Security or national pension systems.