Agree completely. My post was not meant to be an ethical or moral assessment. Neither is it an attempt to measure what people are owed, entitled to or have earned. Obviously most of the elderly have contributed a great deal to society and many continue to do so even after they have retired from work with direct financial compensation. While systems around the world vary, a combination of personal savings and investments, corporate pensions, government pensions or pension systems, and family support structures have captured this idea and generally give the elderly access to the goods and services they need (or attempt to give access, as some systems do fail).
While various systems incorporate a concept of accrued credit (either through a literal savings and investment mechanism or through a sense of social credit) to create a sense that the elderly have earned their upkeep in retirement, the fact remains that the vast majority of goods and services that we consume are not easily transferrable over time and space. That is, the retired are not literally using the goods and services they created while they were working. They created excess goods and services when they were employed with the expectation that others would create excess later when they were retired and that a system would give them access to those goods.
That is all well and good. The problem is, when the retired begin to be a much larger percentage of the population, there are fewer people to produce the goods and services that everyone is using. The result will be some sort of allocation that rations access to goods and services. In a more centralized government controlled retirement system that might take the form of cuts in retirement benefits or increases in taxes on those that are working. In a more distributed savings and investment oriented system, that can take the form of price inflation for goods and services or investments losing value. In any case, those are just mechanisms for adjusting to the fact that the supply is failing to keep up with demand.
Again, I see how this can be interpreted as a moral judgment on what people are owed. I don’t intend it to be. It doesn’t matter what people are owed if there isn’t enough water in the well.