16  Board of Governors, Division of Consumer and Community Affairs (2013), “Community Bank Risk-Focused Consumer Compliance Supervision Program”, Consumer Affairs Letter CA 13–19 (November 18); http://www.federalreserve.gov/bankinforeg/caletters/caltr1319.htm, and “Consumer Compliance and  BIS central bankers’ speeches  5  intensity more explicitly on the individual community bank’s risk profile, weighed against the effectiveness of the bank’s compliance controls.
Individuals can add to their own savings during extra years of work, and delay the time at which they start to drawdown private savings. Also, this allows them to make further contributions to public revenue (via income taxes) and delays any need they may have to draw on the public purse.