Which concept connects worker productivity with the need for pension plans?

The concept that best connects worker productivity with the need for pension plans is the human depreciation concept. This concept addresses the idea that as workers age, their productivity may decline, and they may no longer be able to contribute at the same level as they did in their prime working years.

In this context, having a pension plan in place serves as a critical financial support mechanism for employees as they transition into retirement, especially as their ability to earn income through work diminishes. It highlights the importance of planning for the future when considering workforce productivity and the financial security of employees as they age.

Pension plans are, therefore, a vital component in addressing the financial needs of an aging workforce, ensuring that individuals have the necessary resources to maintain their quality of life in retirement despite any decrease in productivity.