The affordability of pensions and how they are to be funded must be looked at in the light of the nation’s long-term economic and social objectives. In this context, the terms ‘support’ and ‘dependence’ are used and measured in an unhelpful way that incorrectly assumes a one-way relationship. The elderly are depicted as dependent ‘takers’, but they also support the economy and society through paying taxes and voluntary activities. Instead of looking at the ‘old age support ratio’ policymakers should focus on the ‘total economic support ratio’, which relates the number of people who are working to the numbers not working. This was 0.48 in 2003 and is projected to decline to 0.45 by 2041. At this point it will be almost the same as it was in 1961.