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Why is pension managed by the company, wouldn't a national pool be better? In India in the latest system, employee pays some, company adds some and from the money collected over lifetime, the pension will be given. The fund is managed by central government.

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For the US, you're describing the Social Security program more or less which almost all workers participate in. The benefits aren't enough to live comfortably on, so people need to supplement it with something else.

A lot of people complaining about the downsides of company-sponsored defined benefit programs (which are significant) basically just want higher social security payouts (and presumably associated taxes).

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