When pensions (and social security) were invented, we didn't have the technology and knowledge to handle everyone doing personal investments for their old age. Instead, we had the companies and government do it for them.<p>Things are changing, now. We're starting to expect people to handle it themselves, since they're able to... And since it's become such a monstrous job that the government can't handle it correctly.<p>Phasing out things that don't work in favor of things that do isn't a bad thing.