saving money

As the baby boomers born in the post-WWII period exceed their retirement age, they are placing an incredibly tremendous burden on the society. The ensuing rapid depletion of social security fund and strained financial sources available have prompted many to save up sufficient money for their own good after they retire. This alternative possibility is obviously not rested on solid ground.

The retired elderly people are often labelled as being overly financially dependent. They have no access to any source of income, and their expenses would culminate into quite a formidable figure. Be this as it may, it is still regarded the primary responsibilities of the government to take care of the retired in consideration of their immense contributions to our society before they reach the retirement age. Once they leave their jobs to relish the terminal stage of their life due to their physical inferiority, the government should, beyond any doubt, assume the obligation to look after them in return for their contributions. Besides, children of the retired are also expected to share the burden of taking care of their parents as a means of paying their due filial piety.

Some people might argue that the elderly people are gradually exhausting a large amount of social fund, posing a serious threat to the economic development and significantly undermining any potential endeavour to be mounted in other areas. Apparently, this could hardly be justified. The well-being of the retired people is as important as any other issues confronting any government. They are as much entitled to social welfare as any other groups of people. In fact, they constitute the majority of people who are deserving of financial support offered by the government. Pension fund is clearly not an option when it comes to downsizing the government budget.

Pension scheme plays an essential role in guaranteeing the self-sufficient life of the retired people. As long as both the government and younger generation shoulder their share of responsibilities, the lives of the retired as well as the society would be much better off. (342 words)