It is an issue of controversy over financial support for the elderly. While some people suppose that the government should look after and provide financial support to elders, others believe that senior citizens should have their savings before retirement. I think that older people need government assistance and they also need to save their income while they’re still working.
On the one hand, there are several reasons why the government must have responsibility towards elders. Firstly, it must be acknowledged that elderly people deserve financial support from the government. The reason is that they contributed their workforce to serve the country and people when they were young. Therefore, providing financial can create a favorable condition for them to alleviate financial pressure when they retire. For example, Vietnamese teachers will be provided a monthly allowance based on a portion of their insurance contributions during their employment upon their retirement. Furthermore, the government should support health-related issues for the aged. An explanation is that medical examination and treatment costs don’t come cheap and it is a contributing factor to a burden for them. Consequently, retired people can derive a comfortable life from these supports.
On the other hand, people should prepare for their finances before reaching retirement age. Firstly, the government’s financial support for the retired can give rise to a huge financial burden on the state budget. As a nation cannot provide for all of its citizens, no matter how wealthy it is. As a consequence, each individual in the society should save their money to cover part of their lives. For example, they can invest in potential financial benefits such as investing in stocks or saving in banks with interest. Moreover, the government can not spend excessive use of money on elderly welfare. Since this will induce a deficit in budgets used to solve urgent social problems such as environmental pollution. As a result, people should save their own money in case of sudden adversities.
In conclusion, I agree that the government should support the retired with money and take care of them, I endorse the opinion that each person needs to save a certain amount of money before retirement to be financially independent.