Many don't go back historically, 'Boomer' generation from day one of employment were paying into a pension fund, over and above other expenses. Youth coming into employment market are financing elders keeping kitty going, promise was the same would happen for them.

Things went wrong when pensions were no longer enforced, looked upon as something to consider later in life. A person saving from 18 to 65 will have far more in kitty to rely on.

Not all boomers continue living in grand large homes, downside automatically or allow family members remain living with them to assist them try grow in this tight market today.

Care giving homes are expensive, therein lies a problem if sufficient pension funds not saved. Insurance, unfortunately many retirees cannot upkeep with medical aid costs, once you stop paying they stop servicing account which is exceptionally expensive everywhere. Referring to my region, each country structured differently, under Apartheid the pension laws to my knowledge only enforced on white working class.