Absolutely. Excepting, of course, the expedients of planning for your own future instead of relying on the government, saving and the miracle of compound interest.
As I said, I would like to see SS go away in favor of just mandating that people invest in some fund that is heavily regulated (regulating the risk, to minimize the risk of people losing their retirement money), but savings must be mandated in some form. If you don't then people simply wont do it. Then you're left with the choice of just saying "I told you so" while you watch them starve to death, or financially supporting them. Both of those are very bad options.
You are right that some people will choose to live as grasshoppers and not ants. But it hardly seems reasonable that society's empathy for their lack of planning should extend to assuring them the retirement of their dreams rather than a minimal one.
You could try making household economics an education focus, but countries with a much higher average IQ still have Social Security-like systems, so it seems that people simply wont do this for themselves, on average.