[grania]

I've read speculation that the way the gov would do it is to take a person's government sponsored retirement savings when they retire and shift them to an annuity. That way, the person would get a monthly payment based on age, but when they died, the gov got to keep the money. Thing is most people are dumb enough to buy into guaranteed income for life, so their retirement won't run out.

It would go along way down that slippery slope we're on of eliminating inheritance for middle-class people, thus further destroying the middle class.

[nascarnation]

person's government sponsored retirement savings

not sure what that term means?

[Rusty0604]

You are correct.

[tbw2]

The other possibility is requiring a small percentage, to start, of all retirement accounts to be invested in “safe” government bonds, because stock market swings destroy people’s retirements.
Then they slowly ramp up the mandatory percentage.

[ChicagahAl]

...shift them to an annuity.

At current interest rates.

No thanks.