That's why basic retirement plans have to be state owned.

In my country, we have three pillar retirement plans, which add to your final retirement money.
1. Basic (mandatory) - state owned - part of your salary goes in there
2. Pillar (optional): your company pays for your retirement and gets tax break if it does
3. Pillar (optional): you pay for your retirement and you get a tax break if you do

1st pillar is mandatory, 2nd and 3rd are optional and they both add to the final retirement money. 1st pillar gives you aprox. 70% of retirement salary in regards to your salary when you were working. 2nd and 3rd add to that 70%. In my country, pensioners are safe, as they should be. They deserve it. Additionally, they retire when it's time to retire and make room for a new job seeker.

They're not and you know it. I dont know from what EU country you're coming from, but Germany has this very system, and it doesnt work anymore. Pensions (No 1 in your list) get cut more and more because the system cant handle the costs anymore. Too many old people, less and less young ones, because Germans dont f**k enough anymore. Or, they do f**k enough, but dont want to have kids. I dont want to have kids even though I could afford them. And since many think that way (I guess).

In my opinion the state pension should only cover the absolute minimum which is needed to survive (afford a rent, buy food and clothes, power and water), and no more. EVERYTHING else should be in the hands of the individual. Of course, at the same time, I shouldnt have to give away as much money from my income.

So, I think the perfect middle would be something in between the US system and ours.

Not affecting me in the slightest right now, but I finish my MSc in 2 months and i think it is going to be a bugger to find any jobs!

Oh well, thankfully i have a partner who can support me till i can find something, so its not all doom and gloom!