> For half your life or less, in the west.
Due to the economic downturns of recent decades and some poor decisions, both my parents, and at least a half dozen other 50-60+ people I know will never be retiring because they have no personal retirement funds left, due to having spent them all due to cost of living increases, job insecurity, medical expenses (hahaha USA) forcing them to consume their IRAs, where both had 15+ year single-position careers, but got 401Ks instead of pensions.
Its only going to get worse for newer generations.
> studying or living on welfare will steadily increase
But thats not what is happening. It is an outlier and a corruption of the current political paradigms (again, US) to be able to break out of wage slavery. Social Security Disability is, if anything, a necessary evil for the rich and powerful to somehow avoid 40%+ unemployment overnight. But it is a horribly broken and wrong system to have. Same with all the other benefits programs. In reality many people are working 2+ dead end jobs, and cannot retire at all, almost exclusively due to a lack of connections or social wit to get on welfare programs or into cushy jobs.
We should have a UBI, one that is tied to the real growth of automation and technological efficiency, that can start however low it needs to be (look at the Alaskan oil dividend) and as we automate more (and thus put more and more means of production ownership in fewer and fewer hands) the benefits can actually uplift society.
Good luck ever passing that, even in the most socialist European countries like Sweden. There is just too much profit in keeping 90% of the first world population on a downward spiral of insecurity and desperation.