Hello Martin
Thank you for the taking the time to put this review together, but more importantly to reiterate the retirement funding shortfall most of us will face, especially given longer lives.
I believe the issue is twofold,
1. poorly designed DC plans for those workers that are covered (and not all are), and
2. a reliance on plan participants to invest intelligently.
The former is elegantly described in http://blogs.stage.cfainstitute.org/investor/2015/04/13/why-do-we-still…
In the case of the latter, to assume that the average person can do what most investment professionals aspire to is, at the very least, an unrealistic assumption of plan designers.
The solution is to rethink both financial planning and investment product design, with the government leading the charge rather than relying on the private sector, one example being the proposed Ontario Retirement Pension Plan.
I take this opportunity to wish you an enjoyable weekend
Savio