@wanwizard @ChrisMayLA6 I sat on my employer's pension committee for 18 years, and I agree. DB pensions, whether state-run or private, are truly pensions. DC "pensions" are not. As you say, they are tax-advantaged savings schemes. Same for personal retirement saving schemes. (In Canada we call them Registered Retirement Saving Plans or RRSPs for short.) But the downside is that they are costly and carry considerable risk and uncertainty for the employee. And they are lucrative for the financial services industry. Plus, as I have said elsewhere recently, they presume a level of financial sophistication that most workers simply don't have.
