It's most appropriately a shared investment scheme. Your pension money should not sit idle while you are building it. That money can earn a percentage in many ways and dividend reinvestment makes the fund grow massively.
> Retirement depends on having young workers.
Profits do. Retirement is going to happen regardless of how many young workers there are.
There is zero advantage to a society-level investment scheme and many disadvantages - mainly due to distancing "investors" from the investment which means that the goal of the system becomes profit only without any consideration for ethics.
> There is zero advantage to a society-level investment scheme and many disadvantages
Except we're using it and it works. It's demonstrably better than the previous scheme wherein when a business failed it could take the entire pension with it leaving thousands of people high and dry.
> mainly due to distancing "investors" from the investment
It puts me directly in control of the investment whereas before I had zero control and had to accept whatever the company administrator decided.
> which means that the goal of the system becomes profit only without any consideration for ethics.
Do you want to solve the retirement problem or ethics in investing problem? If you insist they both be solved by the same action then I think you're going to end up with a system that has _negative_ advantages and _everyone_ will hate.
It's most appropriately a shared investment scheme. Your pension money should not sit idle while you are building it. That money can earn a percentage in many ways and dividend reinvestment makes the fund grow massively.
> Retirement depends on having young workers.
Profits do. Retirement is going to happen regardless of how many young workers there are.