[p-e-w]

The whole pension fund concept only works because it declares how much is going to be paid out.

Who’s going to pay in if the fund expects a guaranteed commitment but refuses to give such in return?

[JumpCrisscross]

> Who’s going to pay in if the fund expects a guaranteed commitment but refuses to give such in return?

Literally defined contribution [1].

[1] https://en.wikipedia.org/wiki/Defined_contribution_plan

[ericd]

401ks don’t guarantee results for a given amount of input, and people still stuff away lots into them?

[hvb2]

The tax code is also really powerful in sending money to certain products

[arjie]

It’s called a defined contribution pension as opposed to a defined benefit pension. They exist.

[skeeter2020]

not only do they exist, they are by far the more common variant. Whenever you hear about a massive unfunded pension liability it's a defined benefit plan.