Unfortunately we have a large number of people who have no savings for retirement because of their own stupidity and/or laziness. Thus we need to aim at the lowest common denominator.
The intention though of the plan outlined would be to mandate a minimum level of savings, each one receiving based on what they put in. At least if that occurred then public funds would not be used to bolster the ignorant.
I know, that is a conundrum. I still can’t get past the whole right/wrong thing though.