I think it’s better that you save for yourself, provided that your country’s tax and business climate allow for such. Here in America, our House of Representatives (the lower House of our Congress) is working on a bill extending the period which we can contribute to our 401(k) plans (named after the section of tax code allowing it) from age 70.5 to 72 before we have to withdraw from them. Also, we will be allowed to simultaneously save into them while withdrawing from them for some years past 72, should Congress pass the bill, and should our President sign it into law.
True enough! We have had superannuation since the 80’s and I have done ok out of it. Especially as it has an insurance component that I was able to use after a back operation. It was meant to grow into a substitute for the pension but has stalled somewhat as part of it was mandated employer contributions (given in lieu of wage rises) and voluntary contributions. The mandated contributions have stalled at 12% and should have been 15% or 18% by now but slow wage growth has lead the government to delay the rises! So my generation finds itself stuck in the middle - I hope for my kids a better outcome! They are blessed however, my parents and myself have done ok so we will leave them well provided for. Not bad seeing as my grandparents were impoverished tenant farmers on a little island off the coast of France and/or potato farmers in Ireland! A lot can happen in two generations!