Pension scheme used to be good, the workers worked their lives for it. It is the politicians who decided to abuse the pension funds and cause the problems that we have today.
No pension scheme could withstand the simultaneous loss of real value in a nation's currency while government policy kept interest rates near zero. Most pension funds have been capitalized to be solvent with an expected rate of return of something like 8%.Well, 8% ain't gonna happen.
Now, I think the problem is that this is very easy to understand, and all those people out there expecting to get pensions in a few years or a decade or two refuse to see it or understand it. Granted, they are "locked into a system". Typically, within the employment benefits package the employee is only given certain options.
Those restrictions date from another time and place in their risk assessment. Now rather than protect they injure.
