ESOPs have been criticized because a pensioner can become dependent on the stock price.

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ESOPs (Employee Stock Ownership Plans) are retirement plans that allow employees to own a portion of the company they work for through stocks. As a result, their retirement income is tied to the performance of the company's stock price. This can be risky as the pensioner has limited control over the stock price, making them dependent on the company's performance. Therefore, ESOPs have been criticized for making retirement income vulnerable to market volatility.

ESOPs Have Been Criticized Because a Pensioner Can Become Dependent