I think it's a big problem here in Spain because our pension system is almost entirely public, i.e. you are charged high amounts in social security contributions in the promise of a relatively generous pension in old age.

I'm sceptical we'd be able to increase productivity enough to provide these generous pensions for everyone, even though I'm sure some basic living allowance could be affordable.

Really we need to transition to a system more like the UK/US where you have special investment accounts with tax benefits like the ISA or Roth IRA, 401(k) etc. That way there is a much stronger link between what you put in and what you get out.

The housing costs part seems a bit disingenuous too, as it's not like we are running out of land, it's just that you aren't allowed to build on the vast, vast majority of it. It's artificial scarcity.