Insufficient retirement funds
- Loss of old age pension security
- Lack of assured elderly pensions
- Progressive erosion of old age pensions
Nature
Many countries have pension schemes that are sophisticated pyramids, dependent on future contributions to sustain present payouts. As the population ages and birth rates fall, the proportion of those drawing on pension funds increases as those contributing falls.
Claim
It is not the fear of growing old that causes mid-age crisis. It is the fear of growing old and having no money.
Switching funded schemes for pensions requires difficult choices as those caught up in the transition are likely to end up paying twice.
Broader
Aggravates
Aggravated by
Strategy
Value
SDG
Metadata
Database
World problems
Type
(E) Emanations of other problems
Biological classification
N/A
Subject
Content quality
Unpresentable
Language
English
1A4N
J3977
DOCID
12039770
D7NID
140984
Last update
Oct 4, 2020