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pensions crisis

Planning a pension system is near impossibly difficult, as it involves planning a retirement pay-out over very large timescales by governments who most likely will not be in power when the majority of workers retire. The pensions crisis is a shortfall in resources to pay state or corporate pensions due to changing demographics causing a drop in the ratio between retirees and workers. Critics of the pension crisis often argue that changes in the number of citizens of working ages and the transition from a ‘short-lived, high birth-rate’ society to ‘long-lived, low birth-rate’ society is part of the society reaching its population equilibrium and this will eventually return the dependency ratio, of new non-working child to non-working retirees, to normal in subsequent generations . Do you think that the governments should allow people to save on their own and do away with pensions ?

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