Long ago before the times of pension funds, people used to save for the rainy days, or for their future, or for their old age or they would make their own investment of the savings they have.
The invention of pension funds, although in itself isn't a vehicle for gambling by investment bankers, large firms, inside traders, etc, created the possibility for them to leverage bigger sums of money to 'invest'.
Despite the so called governance structure and having established trustees for each fund, we have now learned that people in the financial world will be guaranteed to invent financial instruments to make their gambling appear legitimate.
As long as we defer the custody of our future welfare by investing in pensions, we will forever be in the hands of investment bankers who use our money to 'gamble' to make their own gain when in profit and get bailed out when making losses.
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