Various private and semi-private pension plans are more or less regulated. Huge mess, and a political liability to boot, because these pension funds are, of course, sacred cows who have to be bailed out when they go bust.
I did a diary on the Danish system a while back, and its contents is still valid today.
- Jake If you only spend 20 minutes of the rest of your life on economics, go spend them here.
Might be interesting to see how much money will be required now, and work out how much cash has been lost thatr should have gone to the government in supporting this and has instead vanished down the plughole. Any idiot can face a crisis - it's day to day living that wears you out.
In other words, pension privatisation is a zero-sum game (or negative-sum, if you count the time and effort spent on management, and all the other productive assets that are betrayed into hopelessly unproductive works).
