Pensions are a defined benefit which is why companies forced people into 401 retirement accounts which is not a pension. The account managers make decisions and skim fees off the top. Instead of letting your money earn compound interest you are at their whim and can lose or gain.
Maybe you should try imagining that the USA is not the entire world. And if it looks, walks and quacks like a duck, it’s a duck. Same with pensions.
The uber wealthy are strangling that duck, but they will be fine.
No they aren’t. US pension schemes seem very generous given the relative wealth of ordinary US retirees. Maybe my perception is wrong but I never see a shortage of US retirees touring the world.
I am sure you are right but this may be the last generation where you see that many. Many of us did have pensions but companies moved away from them as I said. Also the well to do Boomers are some fraction of the whole, not sure what percent. You don’t see the 65s who had to return to work.