Some people believe that the government should take care of old people and provide financial support after they retire. Others say individuals should save during their working years to fund their own retirement. What is your opinion?

Since the past century, the

workers

have slowly asserted their rights and privileges, and successive governments have acknowledged that after a period of service, the

workers

need adequate remuneration in their twilight years.

However

, there are some right-wing economists who propound that, indeed, it is the responsibility of the

worker

to plan his retirement. In my opinion, both views have merit and need discussion. In the following paragraphs, I will examine and scrutinize the issue to the extent possible. The golden age of the

worker

was during the communist revolution. Across the socialist states like the Soviet Union, China and Yugoslavia,

workers

had assured pension and post-retirement medical benefits and housing.

This

included agricultural and rural

workers

too.

Although

, not in its entirety, many liberal democracies adopted these

worker

-friendly policies.

However

, all these concessions burdened the state exchequer and many nations found it difficult to make ends meet.

Hence

, after a period of time, slowly these post-retirement benefits were withdrawn, and the

workers

were left to fend for themselves. Several market-friendly economists have pointed out

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this

step-motherly treatment of elderly

workers

and have argued that

instead

, these retirees would have been better off had they invested in retirement bonds. The markets always give handsome returns over long periods of time and the retirees would have received more than enough to cover their living and medical expenses.

For instance

, in the US and Canada, most

workers

are paid by market-based retirement funds. In conclusion, it is indeed a difficult decision. On one hand, if the

worker

depends on the state,

then

he will get a bare minimum but that amount is assured, and

on the other hand

, market-based saving instruments bring in substantial cash, but they can fail anytime. I think the best option is that the government should assure medical and housing facilities

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while encouraging the

worker

to invest in the market for managing his living expenses.