This is such a sad comment. Indeed, the demographic situation was known and predictable in the 80's, and for instance in France we did nothing to plan around it.
So now the young generation is expected to pay longer and longer for retirees, who have a higher median revenue and a higher standard of life than the active workforce (per all studies). There is absolutely no way I'm working until 70 to finance errors from the past without a contribution from our current retirees' wealth. There is anyway no foreseeable future with work for everyone until 70 with our current technological progress unless you want to slave everyone in bullshit jobs. All of this is madness.
This was exactly my complaint when the Dutch retirement age was raised from 65 to 67. Baby boomers, the largest generation, were about to retire, and the argument was that the younger generations weren't large enough to provide for them, so they'd have to continue working longer.
But it wasn't the baby boomers who had to work longer, it was the younger generations who had to work longer for the baby boomers to be able to retire.
At the very least tax the generous pensions of the wealthier baby boomers to provide for the poorer baby boomers.
You can't say they did nothing about it.
They actually did: make sure to restrain access to well-paying jobs with long and costly studies; make sure to regulate any way the young could get ahead by creating rules for things they never had to suffer through and make sure to increase the age of retirement as well as increase the ratio of contributions from salary.
It's all very cynical, and it's based on fundamental egoistic human behavior. Most boomers I know are proud to be egoist and very often stingy.
They all think that they can make the difference by helping their own children, but this is flawed "thinking" in a system that is profoundly collectivist.
And all this comes from the massive flaw of democracy: only numbers matter, if you are the dominant demographic, you can get whatever you want, regardless of the nefarious impacts down the line.
When people keep repeating the trope of democracy is the worst form of government expect of all the others, I laugh my ass off. It can only be so if you have a way to weigh the votes otherwise you are just ruled by the tyranny of the mob and that generally doesn't turn out nicely.
The problem has been artificially created, the ideology said that restricting personal freedom was better for everyone as a whole and we can very much observe that this was a lie of epic proportions...
So now the young generation is expected to pay longer and longer for retirees, who have a higher median revenue and a higher standard of life than the active workforce (per all studies). There is absolutely no way I'm working until 70 to finance errors from the past without a contribution from our current retirees' wealth. There is anyway no foreseeable future with work for everyone until 70 with our current technological progress unless you want to slave everyone in bullshit jobs. All of this is madness.