Countries across Europe are witnessing a number of trends (relating to either a reduced level of payment into the system, or an increased draw from the system) which will put a huge strain on pension resources in the future. Birth rates have fallen as people have children later in life, leading to fewer people providing pension contributions to support those drawing pensions. Death rates have also fallen with increased prosperity leading to more people drawing pensions for longer. Young people are failing to save enough, governments are under pressure to reduce the tax burden, and world economic conditions are leading to a fall in the value of stock markets around the world.

Which of the following statements is correct?

A. All across Europe the pensions system is in crisis

B. Pensioners live longer, and insufficient contributions are being made by workers to fund payments

C. Most of the crisis is due to reduced levels of contributions to pensions systems

D. Governments are at fault for not taxing citizens highly enough