The moment of retirement happens to almost everyone depending on age, gender, and occupation. Some people believe that the state administration should be responsible for financially supporting and caring for current and future pensioners, while others argue that individuals should think ahead and be financially prepared for the time they retire. In this essay, I will discuss both views and give my own opinion about these statements.
On the one hand, society and organizations are the taxpayers in every country, and part of their salaries and companies’ income goes to the national budget every month. The government then allocates gathered money to support vital social organizations such as medical organizations, pension funds, and educational institutions. For instance, when people refuse to work because of their age, they start receiving a monthly old age allowance. As for me, I count that caring for and supporting older people is a good practice.
On the other hand, some people believe they need to be answered for their old age and save money beforehand in a specialized pension foundation. For example, many countries have non-state insurance companies which provide an opportunity to put money into a retirement
account with interest rates. In addition, after retirement, individuals can withdraw a portion of the accumulated amount in a lump sum. For my part, I consider that the use of voluntary pension insurance can lead to the well-being of people in old age.
To sum up, people are responsible for their lives after giving up work and must be confident in their future. From my point of view, the combination of government support and voluntary insurance for retirement would be the best for the happiness of retirees.