Pensions, 401(k)s, and most saving for retirement are not necessary. Just Roth IRA and compound interest.

All one needs to do is save an extra $450/mo after tax starting at age 22, put that into Vanguard VFIAX or similar for the next 40 years. That will give you a few million at retirement...tax free assuming the market continues to act how it has acted for the last 50 years. Combine it with social security and retirement will be manageable for most. Spend the rest of your salary on hookers/blow or iPhone game microtransactions, it doesn't matter.

The problem is the lack of financial education and ethic in the population.