There is also a further reason for the upcomming collapse of the European pension systems. These systems are based on the assumption that the younger generation will pay for the older generation's pensions. However, the problem is that many young people (20 - 30 year old) in Europe are unemployed or underemployed. Further, the number of the so called NEETs (people with no education, training) keeps increasing. I adressed this issue in one of my articles: https://steemit.com/economy/@hoffmannsinput/the-rise-of-neets