I wonder how the UK pension system is set up?
Funded the same way as the US system - workers ss taxes pay the benefits of the pensioners? Works only as long as there are sufficient (large!) numbers paying in vs taking out.
I have the same question about the original German (Bismarkian) system!
I think every country except Singapore has a system of “current workers pay for past workers”
note “I think” - I don’t know that for certain.