Many countries are facing a potential crisis in 20 to 30 years time. The ratio of pensioners to workers will be changing drastically with a declining birth rate, with more lengthy education of the young, and with a reduced working life. In general, the number of people paying into pension schemes is decreasing all the time. Meanwhile, with increased health care and living standards, more people are living long enough to draw their pension funds.
A controversial solution to this problem has been proposed in Germany-changing the age of retirement, for both men and women, from the current qualifying age of 63 for men and 60 for women.
A radical, but socially acceptable, solution to this problem must be found. If this is not done, it is predicted that by the year 2050, one person in three will be 65 or over and the projected work force will be unable to support pensions.
Assuming the following were all socially acceptable, which one would not improve the situation in the future ?
