We have moved, quite quickly, away from defined benefit (pensions) to defined contribution (401K) plans. This provides a company with the advantage of contributing and forgetting it but burdens the employee with management of their own retirement investments. Although many company plans are set up by reputable investment companies that offer a range of sound investment opportunities, once employment is changed, capital can rolled into just about any investment and there are plenty of sharks in the waters. This means that many will fail to invest wisely and end up on public assistance even though they had ample opportunity to do otherwise.

Is it cynical or maybe just realistic to predict more regulation?