This has nothing to do with realestate developers. The entire West (and significant parts of the East) have built fundamental economic systems around a principle of of the young funding the old, paying for a generation not by investment over time, but by current earnings from the previous generation.
When the current young tax paying generation covers social security benefits for the old generation it will be felt by EVERYONE, most probably the poor first because of the cultural "fuck-them-poors" that goes on.
And if you think this isn't a realistic scenario I remind you of the current average age of politicians, the ones who basically set this policy.