The past few decades have witnessed a remarkable rise in the population at every old-age home, as senior citizens often survive with a lack of money for their shelter and medical needs. It is believed by a certain group of people that the government should take care of retired individuals, while others disagree with this notion and are convinced that it is individuals’ responsibility to invest some amount of their earnings for their older age. I firmly agree with the former opinion, as people can live a stress-free life if they do not have to worry about their later age.
To commence with the first opinion, proponents of the government-operated pension scheme argue that maintaining a wealthy and stress-free lifestyle is only possible when people have the freedom to spend all of their earnings for the present, rather than investing for the future. For instance, a developed country like Canada is well-known worldwide for its free healthcare facility and pension scheme for senior citizens, providing Canadians with a sense of relaxation. Furthermore, the number of living years and the cost of medical treatments required for individuals at their old age is not anticipatable, thus saving an exact amount of money is impossible for everyone. As a result, elderly people often become a burden for their family members, leading to family conflicts.
On the other hand, opponents of the government pension policy argue that it enhances the financial burden for the government, resulting in poor services in other sectors such as education, transportation, and many more, because senior citizens are not productive for the growth of the national economy. Additionally, if individuals are solely responsible for their old age’s desires, then they are likely to become more self-independent.
To encapsulate, although self-provisions can help to reduce the financial pressure for the government, I believe that the government should take care of the elderly people so that they can live a tension-free life, and the exact cost and the time period for their treatment are totally unpredictable.