There are different opinions about supporting retired people. Some people think that retired individuals should be supported financially by government, whereas others, including me, argue that they should rely on themselves.
On the one hand, many retirees may not have enough income to cover basic expenses. This means that as they get older it can become more difficult to work and make money. For instance, in Afghanistan, due to ageing population do not receive any pensions, they may struggle to pay for basic needs, such as home rent, food, or medicine. This is why governments should provide financial assistance for these groups of people for their well-being. Furthermore, a pension model could reduce elderly poverty and create a more stable society. In other words, this financial security could help them maintain a decent standard of living which can help to reduce inequality in the society and keep it more balanced. For example, in Finland, income gaps between seniors and young workers are sometimes relatively small, which could help to keep community more balanced. However, I believe that relying on the government puts heavy pressure on public budget and it is workers’ responsibility to save money during their working life to secure their own future.
On the other hand, pension framework puts heavy pressure on public budget, which means that if the government do not step in to help these people financially, then it can concentrate more on essential projects, namely healthcare, education, and transport. Thus, this helps to enhance the infrastructures, which leads to national development. Moreover, people must save and invest during their working life in order to secure their own future. This means that this is their main responsibility to plan for their own financial future. By saving and investing money, they often build enough funds to support themselves after retirement without depending on the government. Therefore, this option is preferable because it leads to national development and encouraging self-reliance.
In conclusion, although pension model could be beneficial for ensuring a decent standard of living and creating more stable community, I believe that due to national development and encouraging self-reliance, taking care of themselves is more significant.