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"Should pensioners buy property or put pensions into their savings, that will be taken into account as part of their asset base, which could mean they have to pay for care costs in later life," she said.
That is true even when schemes are funded, and the money invested in equities and bonds; future workers will have to generate the income needed to pay the dividends on those shares and the interest on that debt.That is turning pensions into a battleground, pitting young against old and taxpayers against pensioners.
This converted pensions into a form of social welfare.
Many like Mr Silva are grateful that the president has brought pensions into line with the minimum wage.
The deficit problems have, at times, seemed to blend with the issue of pensions into a single, giant mess.
The governor's fiscal plan also calls for shifting all current government workers from pensions into 401 k -style retirement plans.
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"Convert your pension into CASH," LumpSum Pension Advance, of Irvine, Calif., says on its Web site.
She transferred her private sector pension into the local government pension scheme.
A shrewd investor in American real estate and government bonds, she turned a small pension into a sizable fortune.
Since 1978 it has been possible to "contract out" of the additional State Pension into a private pension scheme that meets certain requirements.
A quick check of any pension calculator shows that is woefully short, and most people will need well over £300,000 (taking receipt of the state pension into account).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com