When IBM announced an overhaul of its pension plan for employees in America last week, it joined a parade of employers that are shifting more responsibility for saving for retirement on to workers. For many Americans, of course, this is nothing new: millions of them have been managing their retirement assets in individual accounts for years. Nevertheless, in both America and Britain the closure of paternalistic corporate defined benefit programmes, in which pensions depend on earnings and years of service, is accelerating--even at healthy companies such as IBM.
　　To the extent that this creates and encourages individual choice and responsibility, it is something to welcome rather than to fear. Many other countries, facing huge state-pension obligations, would also like to see their citizens assume a bigger role in providing for their own retirement. Even so, the trend raises an important question: how much do people due to take on these new responsibilities know about basic financial concepts?
　　The answer seems to be: not much, and less than they think they do. Studies show that many people overestimate their knowledge of everything from inflation to risk diversification and compound interest. One survey in Australia found that 37% of people who owned investments did not know that they could fluctuate in value. In America 31% did not know that the finance charge on a credit-card statement is what they pay to use credit. Britain’s Financial Services Authority will release the results of its own survey on financial literacy in the next month or two.
　　Even edtd cated professionals may know the basics but see no need to keep up to date--having no idea of the interest rates on their credit cards, the fees on their mutual funds or how their investments are doing. But in both America and Britain low personal saving rates (negative in America, indeed) and record numbers of personal bankruptcies do not bode well. If people are to take charge of their pensions, shouldn’t they know a little more?
　　In the end, ignorance could rebound on governments: if people save too little for old age, the state may have to provide for them willy-nilly. Governments are taking this very seriously, says Barbara Smith of the Organisation for Economic Co-operation and Development, which recently produced a report on global financial literacy. Just this week the British government launched an online debt calculator for overstretched consumers and a money-management course for teenagers that will be offered in schools across the country later this year. New Zealand is another country trying to catch its people young: one official financial-information website there (www. sorted, org. nz) includes an online game on Money Island. [438 words]
　　1. It is informed in the text that______.
　　A. IBM cannot help but overhaul its pension plan ，examda.com
　　B. IBM takes much responsibility for saving for retirement
　　C. workers will assume more financial responsibility for their old age
　　D. most Americans have taken on responsibility for saving for retirement
　　2. Corporate defined benefit programmes will come to an end primarily because______
　　A. most companies are not so healthy as IBM
　　B. it can help companies relieve their pension obligations
　　C. millions of Americans have opened their individual accounts for years
　　D. more factors should be taken into consideration for a healthy pension plan
　　3. If one is to assume more financial responsibility, he should have more knowledge about______
　　A. risk diversification ，examda.com
　　B. basic financial concepts，examda.com
　　C. how much he pays to use credit
　　D. the fluctuation in value of his investment
　　4. It can be inferred from the text that______
　　A. even professionals are short of financial information
　　B. personal saving rates will no doubt increase remarkably
　　C. professionals are usually better prepared for their retirement
　　D. there will be less personal bankruptcies in both America and Britain
　　5. The main idea of this text is that______
　　A. most people are very ignorant about investment
　　B. individuals should have more choices and responsibility
　　C. individuals should be better prepared for their retirement
　　D. government should provide official financial-information

　　难句透析
　　①[When IBM announced an overhaul of its pension plan for employees in America last week]，it joined a parade ofemployers[that are shifting more responsibility for saving for retirement on to workers]．
　　【结构】第一个方括号部分是“when”引导的时间状语从句。代词“it”是主句主语，指“IBM”。第二个方括号部分是“employers”的后置定语从句。
　　【释义】一大批企业正把承担养老金的责任更多地转嫁到雇员身上。美国国际商用机器公司就成了这样的企业。上周该公司宣布要彻底改革其在美国的雇员的养老金制度。
　　②Nevertheless，in both America and Britain the closure of paternalistic corporate“defined benefit”programmes， Ein which pensions depend on earnings and years of service]，is accelerating even at healthy companies such as IBM．
　　【结构】本句中主句的主语是“the closure”，谓语动词是“is”。方括号部分是“programmes”的后置定语从句。
　　【释义】然而，在美国和英国，甚至包括像美国国际商用机器公司那么出色的企业，都在迅速终止家长制企业所实行的那种规定非常明确的依据收入和服务年限计算养老金的制度。
　　③To the extent[that this creates and encourages individual choice and responsibility]，it is something to welcome rather than to fear．
　　【结构】介词短语“To the extent…”用做全句的状语。方括号部分是“extent”的同位语从句。代词“this"指前一句，即注释②那句的内容。
　　【释义】这样做，不仅给个人提供更多选择，而且鼓励个人承担更多责任。从这个意义上说，这不是感到可怕，而是值得欢迎的事。
　　④Even so，the trend raises an important question：how much do people[due to take on these new responsibilities] know about basic financial concepts?
　　【结构】方括号所标示的部分是后置形容词短语，修饰“people”。
　　【释义】虽然如此，这种趋势提出了一个重要问题：那些需要承担新责任的人们对于理财方面的基础知识了解多少呢?
　　⑤Even educated professionals may know the basics hut see no need to keep up to date--having no idea of”the in terest rates oll their credit cards，the fees on their mutual funds or”how their investments are doing．
　　【结构】本句主语是“educated professionals”，谓语动词是“may know”和“see”。破折号后面的现在分词短语“having…”是补充说明部分。介词“of后面跟有三个并列的宾语。
　　【释义】甚至，受过教育的业内人员也可能只是了解一些基础知识，却并不认为知识还需要更新。他们不知道信用卡的利率、共同基金手续费标准以及他们所进行的投资目前运营如何。
　　⑥Just this week the British government launched an online debt calculator for overstretched consumers and a money—management course for teenagers[that will be offered in schools across the country later this year]．
　　【结构】本句谓语动词“launched”后面跟有两个并列的宾语“an online debt calculator”和“a money-management course”。方括号所标示的后置定语从句修饰“teenagers”。
　　【释义】就在本周，英国政府推出了网上债务计算器，供各类消费者使用，并为十几岁的青少年准备了理财课程，今年稍后将在全国各地学校举办。

　全文翻译
　　一大批企业正把承担养老金的责任更多地转嫁到雇员身上。美国国际商用机器公司就成了这样的企业。上周该公司宣布要彻底改革其在美国的雇员的养老金制度。①当然，对大多数美国人而言这并不值得大惊小怪：很多人多年以来都一直在自行管理着为退休准备的资金账户。然而，在美国和英国，甚至包括像美国国际商用机器公司那么出色的企业，都在迅速终止家长制企业所实行的那种规定非常明确的依据收入和服务年限计算养老金的制度。
　　这样做，不仅给个人提供更多选择，而且鼓励个人承担更多责任。从这个意义上说，这不是感到可怕，而是值得欢迎的事。许多承担着支付巨额养老保证金的其他国家，也同样希望看到他的公民在自身的退休保障工作中发挥更大的作用。虽然如此，这种趋势提出了一个重要问题：那些需要承担新责任的人们对于理财方面的基础知识了解多少呢?
　　问题的答案是：没有多少，而且人们实际上掌握的知识比他们自认为已知的还要少。有研究证明许多人高估了他们对各方面知识的掌握程度，其中包括对通货膨胀、风险分散经营及综合汇率等多方面的认识。一项在澳大利亚进行的调查表明有37％的投资者不知道自己的资产价值会浮动。在美国有31％的人不知道信用卡账单上的一种款项正是为了使他们能使用信用卡而必须支付的。英国的金融服务权威机构将在未来的一两个月内发布他们对公民金融知识普及程度的调查结果。
　　甚至，受过教育的业内人员也可能只是了解一些基础知识，却并不认为知识还需要更新。他们不知道信用卡的利率、共同基金手续费标准以及他们所进行的投资目前运营如何。⑤在英美两国，个人存款低利率(在美国实际是负利率)和创纪录的个人破产总数都预示着不好的经济前景。如果确实要人们自行掌控养老金，那他们是不是应该知道更多的金融知识呢?
　　最终，公民的无知将反作用于政府：如果人们为自己的将来储蓄太少，那政府无论愿不愿意都得为他们提供生活保障。来自经济合作与发展组织的芭芭拉·史密斯说，“政府正在严肃地考虑这一问题，”而芭芭拉所在的机构最近正好发布了一份关于全球金融知识普及程度的报告。就在本周，英国政府推出了网上债务计算器，供各类消费者使用，并为十几岁的青少年准备了理财课程，今年稍后将在全国各地学校举办。新西兰也是另一个准备从青少年身上开始普及金融知识的国家：一个官方的金融信息网站(www．sorted．org．nz)就为人们提供了名为“金钱宝岛”的在线游戏。
　　超纲词汇
　　bankruptcy n．破产，无偿付能力，倒闭，公司破产
　　bode vi／vt．预示，预兆
　　diversification n．分散化，多种经营，多样化经营，多样化
　　overhaul n．彻底革新，改革，全面修订 
　　overstretch vt．过度仲长，过度拉伸 
　　paternalistic adj．家长式作风的，感情主义的
　　rebound vi．弹回，跳回，产生与初衷相违的结果
　　willy-nilly adv．不管愿意与否
　　参考答案：1．C    2．B    3．B 4．A    5．C