Since the woman had no savings, she had to ask for support when she needed dentures.
Read more „Neo Group“ will have a new leader
Responding to this story, R.Kuodis emphasized on his Facebook page that almost everyone has savings in old age.
“Almost everyone has savings in old age: pension rights in „Sodra“; a (paid off) home that provides an implicit rent of several hundred euros each month,” wrote the economist.
Implicit rent (or imputed rent) is an economic concept that means the amount of income a real estate owner saves by living in their own home instead of renting it at market price.
Simply put, if you own an apartment and live in it yourself, you do not pay rent. Economically, it is considered that you “rent” this property to yourself. This “saved” rent amount is the implicit rent – it shows the real economic benefit provided by the owned property.
However, according to R.Kuodis, it is unfortunate for pensioners who have lived honestly. “Because guaranteed secured and social support for the cunning (who also have cash savings) unjustly drowns them. Once again: poverty/inequality should be measured by full expenses, not partial income. Whatever, answered idiocracy,” wrote R.Kuodis.
Read more A ten-digit amount has already been paid for Chelsea club shares
