[bolololo12]

government pension funds are not a smaller scam. Enough to say they constantly raise the age at which you can start collecting your pensions and return you small % before you die. So privately owned funds, even if they have massive commissions, still return back more than the government.

The government introduced this type of investing in Poland in the reform in 1999 and in 2014 just didn't buy back obligations which were bought using peoples money.