It Is A Government’s Responsibility To Provide Financial Support To Old People After They Retire IELTS Writing Task 2

On the one hand, people can spend more money while they are still in the working age bracket if they are convinced that they will have a solid retirement income. Increased spending on necessities and other products will surely result in economic prosperity.

For instance, data from the University of Toronto reveals that younger people now spend a larger percentage of their savings to reserve cottages. Further, in the northern region of Ontario after the provincial government of Ontario implemented its retirement support programme in the year 2000. Some smaller villages have greatly benefited from this trend in creating a new source of income. Therefore, the economy will eventually expand if the government supports the older population.

A national pension programme, however, requires a sizable sum of money. Pension distribution and provision requires federal and municipal governments to divert funding from other crucial areas. These includes aspects like education, health, and infrastructure, which would impede a nation's progress.

In addition, since this money comes from taxpayers, taxes may rise, putting a strain on many families' finances. The tax burden on parents who are trying to make ends meet will increase, while the advantages of having a stable retirement income will diminish. Furthermore, wealthy families with high incomes and other incentives will profit most from a government-funded pension plan as they already have these advantages.

I believe that if lawmakers chose to help the older population who had a low income while the rest of the country saved for its retirement. Thus, both the people and the economy would significantly benefit.

By permitting some money to be cashed for elderly individuals upon retirement. For instance, several industrialised nations including Germany, the United Kingdom, and the United States are implementing this concept. Additionally, since they have paid taxes their entire lives, it is their entitlement to receive some financial assistance. Thus, they are forced to return a portion of their funds when they are in need. Regardless of their age, the government should set aside funds to provide for its people.

The elderly, on the other hand, have no other source of income because, compared to young people, their possibilities of finding a job are quite low. As a result, the government, their own children, and their savings should take care of them.

People ought to always have money and family who would look after them in their old age. The parents provide for and make many sacrifices for their children. The kids should always be prepared to look after their elderly parents. An individual has a responsibility to save for their future needs since a prudent person would have some money set aside for his senior years.

In order to ensure elderly citizens' well-being, governments should take on the task of meeting all of their financial demands. However, individuals also have a responsibility to save money for their most difficult times, and parents' sons and daughters also have duties to uphold.

First of all, a culture of saving as opposed to relying on the government may promote a nation's overall economic prosperity. In other words, if people saved money on their own for retirement, the financial load on the government would be reduced.

Putting money away provides some advantages for the individual, in addition to economic ones. Savings-focused individuals may experience a sense of pride and self-respect because they are not reliant on the government for their daily needs. On the other hand, persons who depend on financial aid frequently experience a negative social stigma. Since many people believe they are less valuable and unworthy members of society. Therefore, taking charge of one's own retirement money is undoubtedly a preferable alternative. This is from a personal perspective if one wants to live a life of honour and dignity.

Putting money away offers various rewards that are not only economic. Savings-oriented people may feel more self-respect and dignity because they are less reliant on the government for their daily needs. On the other hand, persons who depend on financial aid frequently experience negative social stigma. Since many people view them as beneath the rest of society and undeserving of its benefits. Therefore, from a personal perspective, supporting one's own retirement is undoubtedly a preferable alternative if one wants to live a life of respect and pride.

In conclusion, the availability of governmental financial assistance will surely help retirees feel less worried. To the detriment of both personal and societal growth. It is preferable to choose individual savings from the very start of working life when the sustainability of this provision is a concern.