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What version of capitalism wouldn't have the problem of risky investments paying out more than safe ones?

The people with better ROI are just going to outbid the ones with a worse ROI for their retirement spending so if you just invest it into T-Bills you'll do worse than inflation.

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I'd say a better version is one where the average citizen does not have to *rely* on a boom-bust, unregulated financial system to secure their ability to survive in retirement. Through tax, fiscal and monetary policy it would be better if people could rely on government services and normal wages to get through their elder years.

We have Social Security though and that doesn't seem to be working much better.

Yeah, before capitalism you just worked until you died, or your children took care of you. That’s still an option, but you must have kids and they must like you.

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