After working hard you want to be able to put your feet up and not have to worry about money.
The state forces you to pay National Insurance (NI) contributions and in return they give you a pension.
Suppose you earn the mean average of £26,000 a year you pay £179 NI a month and the govt will give you £155 a week pension at the age of 67.
Imagine that instead of giving your NI money to the govt you invested it yourself and got an 8% return (the long term stock market average) minus 4% (to allow for inflation).
After 46 working years you would end up with a fund worth £278,000 which would give you £11,000 a year or just over £200 a week. Better than the state pension and you get to leave £278,000 to your children in your will .
Your employer also pays NI. On the average wage you pay £179 and your employer contributes £205 a month.
This would produce a fund of £425,000 giving you £17,000 a year or £326 a week more than double the state pension, you get £425,000 to leave to your kids and you get to do this at the age of 60 instead of 67.
The govt is ripping you off.