The 2010-decade was a challenging period for the world. Latin America’s economy was doing relatively well at the beginning of the decade. However, the region’s economy is stagnated.

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The European Union has been struggling too. Besides economic stagnation, right-wing populist candidates have been on the rise.

The populists’ slogans on preserving national identity and tackling uncontrolled immigration have gained traction.

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Further, the Brexit movement has made analysts and pundits question the European Union model of economic interconnectivity.

Almost every country in Latin America is facing massive protests. In the UK and Catalonia, national groups are seeking independence. In France, last year the gilets jaunes movement protested fuel taxes and have been seeking more social demands.

The prevailing pacts—blocs, international agreements, trade relationships—ceased to give certainty.

The recent COP25 was a show of how these blocs are ill-equipped to deal with challenging issues like climate change. Among other policy debates on repairing the models in question, the pensions system have been scrutinized.

On the one hand, they raise the moral question about how society should reward employees who have been working their entire with retirement benefits.

On the other hand, pundits question the financial burden of the retirement system. In particular, could governments afford to give retirement pension to retirees?

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