Some people claim that the authority should take responsibility for providing care and financial aid to assist senior citizens after they retire. Others argue that money for retirements can be saved by individuals during their working period. My essay below will clarify both two opinions and state my point of view in the conclusion.
On the one hand, people should save money to fulfil their future needs more independently. In the case of developing countries or under developed nations, besides the welfare for old people, there are severe vital fields that need financial support from the government such as education, science, technology, etc. Therefore, individuals should share the burden of this pension for the government. For example, if people have stable salaries they can open saving accounts in the bank, buy government bonds, or invest in low-risk investment funds and they will receive the return for their old-age period in the future. In developed countries, pensions from the national budget almost help people afford them to fulfil their future needs. Meanwhile, some of them have personal hobbies that require more money, they should have their own savings to adapt to this.
On the other hand, elderly people have the right to have financial support as they had paid taxes throughout their working life. In other words, people contributed to the development of the country when they have the capacity to do, so they deserve to receive compensation for this when they reach old age. Indeed, some developed countries conducted retirement saving plans for their residents with severe merits and this could be considered as the financial assistance of the authority. Taking the 401(k) plan in the USA, for instance, it is very simple to enrol, accompanied by tax incentive policies and the people who joined in it will receive funds after they reach 65 years old.
In conclusion, it is necessary for people to have savings when they retire and the government should also provide financial aid for the elders. I strongly agree with both two opinions because each of them has specified advantages in a certain context.
Some
people
claim that the authority should take responsibility for providing care and
financial
aid to assist senior citizens after they retire. Others argue that money for retirements can
be saved
by individuals during their working period. My essay below will clarify both two opinions and state my point of view in the conclusion.
On the one hand,
people
should save money to fulfil their future needs more
independently
. In the case of developing
countries
or under developed nations,
besides
the welfare for
old
people
, there are severe vital fields that need
financial
support from the
government
such as education, science, technology, etc.
Therefore
, individuals should share the burden of this pension for the
government
.
For example
, if
people
have stable salaries they can open
saving
accounts in the bank,
buy
government
bonds, or invest in low-
risk
investment
funds and
they will receive the return for their
old
-age period in the future. In developed
countries
, pensions from the national budget almost
help
people
afford them to fulfil their future needs. Meanwhile,
some
of them have personal hobbies that require more money, they should have their
own
savings
to adapt to this.
On the other hand
, elderly
people
have the right to have
financial
support as they had paid taxes throughout their working life.
In other words
,
people
contributed to the development of the
country
when they have the capacity to do,
so
they deserve to receive compensation for this when they reach
old
age.
Indeed
,
some
developed
countries
conducted retirement
saving
plans for their residents with severe merits and this could
be considered
as the
financial
assistance of the authority. Taking the 401(k) plan in the USA,
for instance
, it is
very
simple to enrol, accompanied by tax incentive policies and the
people
who
joined
in it will receive funds after they reach 65 years
old
.
In conclusion
, it is necessary for
people
to have
savings
when they retire and the
government
should
also
provide
financial
aid for the elders. I
strongly
agree
with both two opinions
because
each of them has specified advantages in a certain context.