[tomp]

No, you missed my point.

Pension isn’t about money. It’s about work. Less working adults => less surplus value created by society => less resources available for retired people.

How you finance that - via direct payments / taxes, or via individual savings - is besides the point. Neither of these can defeat the economics of supply (of working-age adults’ labour) and demand (of the retired non-producing population). If you try to force it, you’ll just cause other issues (e.g. housing / market crashes caused by all pensioners cashing out at once, or wage/food inflation caused by labour shortages).

[phicoh]

That why I specifically mention The Netherlands raising the retirement age. That causes both more labor to be available and reduces the number of people who are retired.

Pensioners don't cash out at once. The number of pensioners grows slowly which many result in gradually lower demand for stock or real estate. No need to expect a crash because of this.

No need to expect anything to happen to food either. Food production is highly efficient and relies on only a tiny fraction of the total labour

[immibis]

This, TBH. Far too many people think economics is about money. Economics is really about distributing goods and services and work. Money is just one possible means to that end (perhaps the best one).