[bigbadfeline]

> This is exactly how pensions work: newer members to the defined benefits plan pay for older members.

No, that's now how they work, if that was the case, there wouldn't be any need for PEs to buy and enshitify the assets we are talking about here. Your current description contradicts your previous comment.

I'm not going to explain it to you, there's enough information about the topic.

> At the ballot box.

We don't vote for PEs. And who we vote for makes no difference to them, these truths are so basic, it's a shame you don't know them.

[mgh95]

In practice this is exactly how they work, whether it was intended or not. Otherwise it would look a lot less like a defined benefits plan and more like a defined contribution plan.