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lotsofpulp 2 days ago

Defined benefit pensions are obviously worse. They introduce agency risk where there does not need to be any. I prefer having control of my assets over some fund manager controlling them, it's all going to the same place anyway. Plus you have to pay extra for the fund manager.

Taxpayer funded DB pensions are a little bit better, since they offer outsized benefits due to being able to hose future taxpayers.