What is the best policy and strategy for a government to deal with aging and retirement issue ?

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In Canada, they have a great retirement plan and housing policy for senior citizens. They can do that just because they have already received high income tax from each citizen when they were still working and have a stable income. on top of that , sells tax is also another income resources for the government, so Canada is rich enough to do so. However, when compare to Hong Kong, the case is quite different. Since the income tax in Hong Kong is still very low and there is no sells tax requirement in Hong Kong yet. That's why it is hard for the government to solve the problems of aging and retirement problems for all citizens in Hong Kong. That's why the Hong Kong government still refuse promises for a great retirement plan for every citizen in the future because they know that the can't handle it. In dealing with such a big problem with a population almost around 8 million, I really don't know what the government can do even it will be a good things to everyone in Hong Kong for their future. What do you think about this issue ? Have your country handle this problem well enough for your retirement or for the next generation ? Share with us ?