> unfortunately many governments have proven incapable of responsibly handling the money The system that GP described forces people to put their money into sup

> unfortunately many governments have proven incapable of responsibly handling the money The system that GP described forces people to put their money into superannuation funds (not government) that invest on their behalf, which I'd say is pretty competent government policy. For the most part it works well, but it does distort the market (e.g., super funds buy housing stock, old people have more money available to them), and not everyone can contribute enough before retirement age. The counterfactual would be a whole lot of people that have spent all their savings by retirement age.