Pensions have effectively become Ponzi schemes. It’s just now become obvious. Anyone with half a brain would know that a system that allows people to collect a fixed income in retirement for more years than they actually worked is doomed to fail.
Pensions have effectively become Ponzi schemes. A lot of retirement systems fall into the same category.
Some say Social Security is a Ponzi scheme. In many ways, they're not wrong.
The Stock Market? Most stocks in the stock market meet the SEC’s definition of a Ponzi scheme.