If we rely on a private pension system instead of social security it would lead to inequality within our society. While the high paid workers are able to afford a private pension, low paid workers who have a high living cost may not be as lucky. Once low paid workers retire they are left with nothing due to not being able to afford much pension contributions. Social Security is for everybody no matter what your salary is. “Social Security is an equalizer, leveling the playing field for rich and poor, whereas private accounts would favor the wealthy.” (Should We Privatize Social Security?)
