So have younger people too, just their life has not been as long (yet).
The way it usually works is taxation from the current working generation pays for the current retirees. You are not paying into your own account for later (that is a private pension)
FWIW in the UK there are more children in poverty (so their parents too) than retirees who are in poverty. Kids don't vote though...
IMHO it's a matter of basic justice. If you're forced to pay an amount for pension funds that you cannot even chose and have no control over for your whole work life, then you better should get a an adequate pension when it's time. As for the example from the UK (not comparable to Denmark), I don't see why someone who worked their ass off their whole life should be poor because some parents are too poor to have children. That seems to be a different problem.
What's annoying about these debates is that the people who'd e.g. like to see pension cuts are either young and will change their mind later, or they are so rich that none of this matters to them anyway and the latter shouldn't even have a voice in this debate.
> I don't see why someone who worked their ass off their whole life should be poor because some parents are too poor to have children.
The issue is the "triple lock" (state pension rises by whichever is higher of either rate of inflation, average earnings increases, or 2.5%).
While laudable in intent, recently this has led to situations where pensioners are getting bumper increases linked to high inflation, while the younger working age people are getting stagnant wages while inflation shoots up.
This is is why pensioners are on average getting wealthier than the working population. Let that settle in for a moment: year after year pensioners are getting more wealthy than the working population that is financing the pensioner's increase in wealth.
This is universally accepted as unsustainable and deeply unfair on an intergenerational basis as the pensioners - who generally tend to own their own homes and also get various benefits like free transport and extra money for heating costs etc as well as benefiting from more generous policies/working conditions of the past like free university education and final-salary private pensions or purchasing government-built social housing at steeply-discounted rates, lower tax burden - continue to get more and more well-off while the people financing their retirement are struggling with soaring costs, expensive childcare, high education costs, zero-hour contracts, stagnant wages and all the rest.
Yet pensioners complain that they paid their taxes "all their lives" so they deserve to continue getting a bigger and bigger slice of the pie, that they deserve to get wealthier and wealthier than the working population, all at the cost of pushing more children below the poverty line and financially crippling the current workers who have also paid their taxes all their lives (so far).
Eventually with policies like these, you run out of other people's money.
Trouble is that it is a political landmine since pensioners are a big part of the vote so no one has the balls to abolish (or at least reform) the triple lock.
It's not a choice. You're forced to pay for the pension system in Denmark and most other countries if you're employed. The only thing governments have to do is to use that money for actual pension funds instead of embezzling it, and to calculate the contributions on a reasonable basis with reasonable extrapolations about inflation, i.e., to properly finance these funds now and not abuse them for other purposes.
It's mysterious why they haven't done that despite the fact that the demographic problems were known to occur up to 40 years ago. But you see the same thing with housing prices and rents, forthcoming problems were already obvious 20 years ago in every country, yet only few have tried to deal with them in time. Maybe someone else can explain where this inertia comes from, I always found it strange.
