To all who suggested I may need a personal solution in the future.
No, my personal situation is such that I'm not worried financially now or in the future. What would frighten me is being kept alive when old and decrepid. For me it's about quality of life.
However, not everyone is as lucky as me in material terms. The problem remains, what can society do about the rising aged population?
Milu and Tabs: Please don't reply that we should invest in retirement homes