I think your point ignores that there's a mandatory federal pension system w/ a minimum benefit that people who don't save in private pension plans or who may o

I think your point ignores that there's a mandatory federal pension system w/ a minimum benefit that people who don't save in private pension plans or who may only have temp jobs do contribute to, and will draw from in old age. It's true that it's not fully funded, sure, but if it didn't exist it would be the obvious policy solution to the problem you're describing.