Özgür Demirtaş compares Social Security systems to a Ponzi scheme: 'A whole different Zübük issue'

Economist Özgür Demirtaş, one of the figures who keeps a pulse on the economic agenda with his observations and posts, has made a striking assessment regarding Social Security systems around the world.

Describing Social Security systems—where money contributed by the working population is distributed as pension payments to the non-working segment—as a Ponzi scheme, Demirtaş expressed his concern that these security funds will incur losses as the elderly population increases.

Demirtaş also pointed to populist politicians as the cause for the collapse of these systems.

Özgür Demirtaş shared the following:

Social Security systems in the world are Ponzi schemes.

While young people work, they put money into the basket.

When the elderly retire, they take money from the basket.

The system works when young people are numerous... When the opposite happens, this Ponzi scheme collapses.

And then there are the populist politicians who put their HANDS into the basket. That is a whole different Zübük issue.

FOR THE FIRST TIME IN THE HISTORY OF THE REPUBLIC

According to the 2023 population statistics announced by TUIK, the ratio of the elderly population to the total population in Turkey has risen to 10.2 percent. Thus, for the first time in the history of the Republic, the elderly population ratio has reached double digits.

News Source: 12punto