It still does, but it's indirect and not as visible. 1. Social Security and Medicare benefits are being paid for by currently working (read: younger) people.

It still does, but it's indirect and not as visible. 1. Social Security and Medicare benefits are being paid for by currently working (read: younger) people. 2. Retirement funds invested in equities and bonds require continued productivity by younger generations to retain value. Maybe parents don't rely on their specific offspring, but they definitely rely on society's offspring as a whole.