4. Refer to the figure below. What is the key message for policy makers based on the evidence provided? Refer to the interview with Prof. Piggott. How is this evidence related to the structure of pension systems around the world? In particular, discuss the PAYG systems and possible alternatives (eg Australia's pension system). Figure 7.1: The old-age dependency ratio. defined as population aged 65+ divided by population aged 15-64. for G7 countries. Australia and less developed regions based on the United Nations definition 65- mis France Auntola .... Less developed motions Old age dependency ratio In 3)