Finance School of management Taking account of social securit In many countries the government obliges citizens to participate in a mandatory retirement system called security Pay a tax during their working time and in turn a lifetime annuity in their old age Influence voluntary saving uesTc 1313 Finance School of Management Taking account of social security u In many countries the government obliges citizens to participate in a mandatory retirement system called security. – Pay a tax during their working time and in turn a lifetime annuity in their old age. – Influence voluntary saving