sugar_in_your_tea ,

You'll generally get less from a defined benefit plan vs a defined contribution plan. A defined benefit plan is an insurance product, so the managers are encouraged to be more conservative with investments to limit risk. A defined contribution plan is an investment product, so the managers are encouraged to maximize returns.

Would you rather have a 5% yield guarantee or a very high chance at 10% return? (as in, 10% has been consistent in the past) In almost every scenario, a defined benefit plan will have much lower usable cash and no inheritance vs a defined contribution plan.

The US actually has both. Social Security is a defined benefit plan, and a 401k is defined contribution. Social Security is intended to replace ~40% of pre-retirement income (more for lower income, less for higher income), and the 401k is intended to fill in the gaps. If you save 10-15% of your income over a 30-40 year career, you'll be fine. If you save more, early retirement is an option. Unfortunately, many save <10% or make really stupid investment choices (e.g. keep it all in cash), so educating people should be the focus. If we instead move people to defined benefit plans, they'll get less than they otherwise could.

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