It is true that the issue of whether the government should provide assistance for retirees is a topic of much debate. While it can be argued that the elderly may be encouraged to save up for their retirement, I maintain that governments should be charged.
On the one hand, retired people could build up their own retirement savings to guarantee long-term stability independently. In other words, encouraging personal savings through investing long-term or obtaining social insurance can equip people with the means to support themselves during their retirement years without relying on the public funds. In addition, the unpredictable changes in government’s policies may lead to an uncertain stage, which will affect to elderly’s living standards. For example, during the Covid-19 pandemic in Vietnam, the state budgets concentrated on importing vaccines and establishing new field hospitals, so that the government had to decrease the pension level at that time.
On the other hand, I contend that the government is financially capable of covering the huge pensions of their elderly citizens. It is important to note that retirees need to cover various expenses to ensure their well-being in old age, such as healthcare, insurance, food and groceries, and transportation, which appears to be far beyond individuals themselves financially capability. In addition, dwellers have contributed their effort to society through work when they were young, so that they should be received support financially from the national budgets which have billions of dollars originating from taxes, profits and state services.
In conclusion, both points of view have their merits. However, I am of the opinion that governments should be held responsible due to their enormous financial capability. In my opinion, the government must also urgently raise funds for vulnerable retirees to alleviate the perennial problem of lonely and homeless elderly people.