Since tax is being deducted from pensioners money which they are entitled to for working for a company over the years then we can say that pension affects the economy since tax still goes to the government
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yes, they do. if pensioners are well paid on time, they won't contribute burdens to the working population and this will in turn improve the economy of a country.While baby boomers are working longer, their inevitable retirement will have widespread effects on the American economy. Expect high impacts on consumer spending, as retirees not only produce less but also consume and spend less.
While state and federal pensions are typically adjusted for inflation, most private pensions are not. A 2000 Bureau of Labor Statistics survey reported that only nine percent of blue collar and service industry employees who are in traditional pension plans received an automatic cost of living adjustment in that year.
The retirees are considered to be an important component of my country's economy primarily because they help keep our economy running by saving their money little by little which then, in turn, get used by our government for different kind of development works.