[maxxxxx]

Are annuities regulated? It seems a pretty straightforward business model to take in payments for a few years and then declaring bankruptcy.

[dev_dull]

Just because something is regulated doesn’t mean it’s safe and definitely doesn’t mean it’s guaranteed. For example, US social security funds are solvent until 2035 according to our own government accounting[1].

1. https://www.ssa.gov/policy/docs/ssb/v70n3/v70n3p111.html

[maxxxxx]

It's not like it will disappear after 2035. Some adjustments have to be made like probably raising the retirement age but that doesn't mean that the system doesn't work.