I live in Argentina where the government took over pensioner funds and gave away millions of pensions to people who have never worked in a formal job, and there

I live in Argentina where the government took over pensioner funds and gave away millions of pensions to people who have never worked in a formal job, and therefore never put a penny into a pension fund. The result is that almost every pensioner earns peanuts regardless of how much they worked or how much they gave to the pension fund, and almost every pensioner earns half the poverty line basket. Guaranteeing financial security to anyone is impossible.