Insufficient retirement funds
Name(s):
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
1. It is not the fear of growing old that causes mid-age crisis. It is the fear of growing old and having no money.
2. Switching funded schemes for pensions requires difficult choices as those caught up in the transition are likely to end up paying twice.
Aggravates
Fear of growing old [in 2 loops]
Compulsory retirement [in 1 loop]
Fear of personal insecurity [in 2 loops]
Retirement as a threat to psychological well-being [in 10 loops]
Aggravated by
Strategy(ies)
Value(s)
Type
(E) Emanations of other problems