"Forced savings account" is a bad proxy for a public pension. Why, for instance, do I need to bear the risk that I might live to 100, and therefore have to save

"Forced savings account" is a bad proxy for a public pension. Why, for instance, do I need to bear the risk that I might live to 100, and therefore have to save for living to 100 even though statistically I'll probably die before 85? A public pension is a "forced savings account" that pools a whole bunch of risks together across the entire population. It's forced savings plus an insurance policy. Now someone will probably say that everyone should be forced to save with a private account and also forced to carry "old age insurance" or something, but hopefully people can see that's just a public pension but worse, because you're at the mercy of middle men and grifters.