It depends on what country you live in, in the UK at least you have a small state pension and private pensions can be saved on top. These can optionally be used

It depends on what country you live in, in the UK at least you have a small state pension and private pensions can be saved on top. These can optionally be used to buy an annuity. 'A few years' seems an understatement for what is reasonably expected to be 20+ years, I'm not sure what difference the healthy modifier brings. But yes, an annuity wouldn't generally allow you to pass on family wealth. That isn't the dividing line that was being discussed though.