Indeed, most of the empirical work on this issue suggests that the main reason for the decline in demand for less-skilled labour is due to technology rather than the trade-related impacts of globalisation. Nonetheless, globalisation and technological progress go hand in hand and, for the public, the former is much easier to criticise than the latter, for obvious reasons.
Thus it is clear that, individuals will be increasingly supporting their old-age consumption via alternative, private pension plans and life insurance policies. In this context, I see a need for public authorities to foster conditions that encourage and are conducive to saving, particularly in countries with a strong ageing of the population.