The UK is in an interesting place with its current political incumbents seemingly at the mercy of financial market lobbying groups. And as an aside they honestly thought that changing tax thresholds around pensions were going to get a depleted post-COVID workforce back? Lunacy.

I can see from your points how pensions are vulnerable over the long term and it locks your money away (which is a good thing for some people). Once decent company / civil service pensions are getting hammered and changing rules around social care contributions present a significant risk to retirement savings, property, inheritance and pensions. The poorest people are saving nothing towards their retirement out of fear of having it taken away and will throw themselves on the mercy of the state.

Many people will have an impoverished retirement if they manage to retire from work at all. People will literally have to work till death.