Inconvenient truth! Good article!
"However, even without the economic impact of the Covid-19 pandemic, simple mathematics shows that financing those systems will eventually become impossible. Even pre-Covid, public debt had already reached unsustainable levels, despite what Modern Monetary Theory (MMT) thinkers believe. MMT promises unlimited funding of public expenses, but money has to be earned, not only printed."
Michael von Liechtenstein
It does not take a math genius to understand the unsustainable dynamic. In United States (my country), it has long been foolishly promulgated that longer lifespans meant longer retirement spans. Again, one less-than-genius know it is untenable to work for 20 to 30 years then retire for 20 to 30 years, yet that the American dream remains as such.
The harsh reality is simply this. If most or many are living until 80 even 90 plus years, then the same will have to somehow work into their 60s and 70s.
There is also the undiscussed side effect of longer retirement years for those of minimum means; depression per daily routines of TV viewing (or staring), home isolation by choice or health problems, and general nonactivity. The overhead to reactivate people is astronomical and frankly impossible to any beneficial degree, when simply working provides the best if not the only medicine psychologically as well economically.
With all that said, decades of government interventions interfering into these private matters therefore misdirecting private decisions, efforts and resources, have been the source of the very problems outlined in the article.
See link for entire article...
https://www.gisreportsonline.com/sleepwalking-into-a-healthcare-and-retirement-crisis,3463,c.html
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