The necessity of this might look different in Asia where children are expected to care for their aging parents thus taking the burden off government pension and elderly care costs
I've been to rural Japanese towns where it felt like there were no young people at all, only elderly, and the largest employers were related to elder care.
I suppose one aspect that might reduce the burden on the government, is that all the savings of these elderly are not going to someone's inheritance, but instead to the elder care institutions.