I think it depends on your financial literacy, I know a lot of people who have no idea how to invest their money, you would be surprised how many people would be more comfortable with someone else managing their life savings for them

You are absolutely right to want a pension in addition to just regular savings, because a pension has huge tax benefits. (UK)

Someone choosing to be illiterate and getting scammed out of their money still does not make sense. Life doesn’t get much easier than picking the target date fund with the year you expect to stop working.