Pensions don&#x27;t work. The fact that they&#x27;re disappearing is proof of that.<p>The entire concept of being legally required to provide a certain monetary benefit in 2060 based on someone&#x27;s work now is crazy.<p>&gt; <i>401K are not pensions and well it is scary.</i><p>Why? Your benefit is based on the actual money you have. That&#x27;s just math, as opposed to smoke and mirrors with pensions where the money may or may not actually be there 50 years from now.