What do pensions and Christmas have in common?
Among the Christian community, Christmas is the celebration of the birth of Jesus Christ.
However, a little-known fact is that the first pensions appeared on the scene about that time when they were used by the Romans to fund the retirement of esteemed officials (like emperors and senators) who survived long enough.
Both the birth of Christ and the first use of pensions can be traced back to the same era. We are not cynical enough to equate the two in any other way but it interesting to note that later on, the Anglican Church used them to pension off “retired” archbishops etc.
The first known scheme established in the United Kingdom was the Scottish Presbyterian Widows Pension Scheme (widows of ministers) around 1769. The Český Krumlov Gothic castle was eventually owned by Joseph Adam Schwarzenberg who established a pension plan for the staff was on 25.12.1765, but the plan was abandoned after WWII, when the Schwarzenberg’s lost their revenues streams.
Lifetime pensions and pensions are the world’s oldest financial product. As its been around for the longest it must therefore be the best – beat that “logic”.
It is rumoured that Father Christmas or Santa Claus keeps working as he is on a lifetime pension, and uses it to buy presents for all children of the World
Happy Holidays from me and all the team at Optimum Pensions.
Wishing you a healthy and prosperous New Year.