> governments/employers not wanting to guarantee financial security of elders and offload the risk to the individual One can argue for a well-fare state that p

> governments/employers not wanting to guarantee financial security of elders and offload the risk to the individual One can argue for a well-fare state that provides all guarantees one wants. But you're flipping the issue here. First, you have a risk of not aging. But most people are inevitably going to age and retire. This risk is inherent to the individual. Now we can offload that risk to the government (please, it's not the other way around), but it's going to have costs. And I think offloading it to the government is even riskier, because governments make stupid decisions and are subject to massive corruption.