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Is the crisis in the UK due to paying out pensions, or due to trying to give unrealistically good healthcare to every single person? I've heard a bunch about funding issues with public health in the UK but not much about funding issues with their pensions.
It's possible the UK will try to gut pensions to throw yet more money into the endless pit of healthcare, but the unsustainable element here isn't the part where we pay people a pension for 15-20 years after 40 years of work.
Well if the whispers coming out recently about public sector pensions are to be believed (extensive use of incredibly highly leveraged tools to try and deliver increasingly unrealistic inflation linked expectations) then pensions do seem to be an upcoming issue. But no, it is mostly due to healthcare costs. Not unrealistically good healthcare to everyone though, at this point it is nearing basic adequate healthcare to a subset of the population. The NHS is in a really, really bad shape at this point (Emergency response times are sky-high). But that's mostly just an allocation issue like you said.
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