It’s simple really.
Your wage or salary is the money necessary to reproduce your ability to work.
Your pension is your wage or salary deferred until you retire. Concerns over the effect of increasing life expectancy – sometimes described as a “burden” – are only a smokescreen. We need to be clear. Lowering pension levels and raising the retirement age are cuts in real pay.

Pensions are a transfer payment from the profits of the capitalist class, which come from what workers as a whole produce. That there is at present a “problem” once more proves that the market economy is incapable of going beyond the limits of the wages system. It cannot adequately provide for the needs of the class that produces and distributes all the wealth in the first place.

Advances gained from the increased productivity of our labour – including an increased lifespan – are being clawed back by capital to its advantage, pushing the burden from the capitalists onto the workers.