Pensions in general feel like a scam. How can you guarantee a certain income? Such predictability is just not possible in real life, which is why so many pension funds don’t have enough assets. And so they turn into a Ponzi scheme. This seems to be true in every state or country where they exist.

> How can you guarantee a certain income?

By investing in income-producing assets.

> Such predictability is just not possible in real life […]

Owning profitable business(es) is not possible?