The current system is hated by people who've been farmongered into thinking there won't be any pensions when it's their turn (this tactic has been around for at least 50 years and hasn't happened yet). And also successfully FOMOed into thinking they are missing out on huge gainz if they would invest the money otherwise. Even though probably true, I quite like the current system of solidarity. And anyway when you go the private insurance route, the way it's setup currently, you are giving away a huge percentage of your earnings to the insurance. They justify this by saying your gainz are only taxed at 50% of their actual value, but since one of the biggest problems of the world today is an overgrown financial strength (thus influence) of large corporations, caveat emptor.