Yeah we don't get that one nor Roth IRA in most of Europe. Afaik it's only a USA thing (though on second thought I do think pensions are optional in the UK so they may have a similar system).

The main difference between this and a 401k is that the money you pay into it isn't yours and doesn't affect what you get in the end, only your work years fed into some chart determine that. The taxes go directly to current payouts as it would be in a literal ponzi scheme.

The biggest difference being that typically the state assumes the underperformance risk for a pension, versus the individual for a 401k.

The IRS raises the limits every year. I imagine they will raise it quite a bit next year.

A 401k is like a state funded pension? No, not at all?