Pension isn't infinite though, as you will die at some time, and the parameters on how long people can live are quite well known. For example, you should always take $2M up front at 70 instead of $50k per year indefinitely because you simply can't live long enough for the latter option to ever come out ahead.

* with the current state of medical science.

I suppose I agree on a personal level, but my concern is moreso with the structure of funding pensions vs funding 401k's.