Third, the bosses reduce their contributions which exacerbates the financial condition of the pension funds. Finally, the workers are in such dire straits that they cannot make their pension contributions. If the workers attempt to recover what they have put into these plans, they will find them bankrupt. Thus, the four-step plan closes with a miserable and impoverished working class. With a pension plan, the beneficiary can receive back only what that person has been put in, adding a little to include the employer's contribution, etc., as is customary with pension plans.
Pension plans are famous the world around for cheating the pensioners.
Inflation works to this end. Bad investments are tried and true techniques, as are fraud and skimming. Typically, as soon as a pension is really needed, the economy drops through the floor and the pension is worthless. No pension-like plan can substitute for a real Social Security program. A real program does not accumulate funds.