[lotsofpulp]

>Pensions are by and large unregulated.

Defined benefit pensions have been heavily regulated since ERISA (1974) and PPA (2006).

>Back in the 50's it worked largely well, because people weren't willing to break societal norms.

Back in the 50s, people were barely even getting paid from the pensions. And the population was young, everyone was paying into the funds, instead of receiving from them. And their lives were much shorter. There are consequences to future growth when people start having fewer and fewer children and living more and more years.

[bb88]

> Defined benefit pensions have been heavily regulated since ERISA (1974) and PPA (2006).

To the point of guaranteeing that people got the pensions promised to them? No.