The fact that social insurance pensions are always only a redistribution of current production among current consumers means that inflation makes social insurance look more effective than financial savings for retirement funding ~ and that is also bad for those who get a slice of financial savings for retirement, but no slice of social insurance pensions.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.