[CaptArmchair]

If a pension system is purely based on repartition: yes. But that's not the case in most countries. Pension plans mostly involve pension funds which are rooted in the financial markets. It's the individuals responsibility to max out their pension plan, and fiscal policies are used to incentivize this.

Ownership of assets, like home ownership, also contributes towards the totality of a pension.

In that sense, not owning a home, having to pay rent in old age, is a form of impoverishment. If that rent isn't offset by other sources of income like financial investments.

[bot403]

Financial markets are fueled by growth. Growth in real terms (not merely inflation) requires increases in GDP which requires real output by people at it's core.

I'd be worried about expected financial growth of any retirement fund over the long term if population is flat or declining.

[tremon]

Financial markets are fueled by growth

Infinite productivity growth is just as detrimental to society as cancer is to the body. We need more sustainable economic models.

[alexey-salmin]

Who will work in these companies that you own? Who will consume the goods they produce and fuel revenues?

The home ownership is real, but you can't feed of that. You can live in your home yourself if you'd like, but if you plan to rent it out for profit you'll need young people to work and pay the rent.

[koliber]

True.

And financial market growth depends in a large part on consumption growth. And consumption growth depends in a large part on population growth (at least in a given market).

There are two ways to get a population to grow. One is have babies at above the replacement rate. The other is immigration.