Earlier quoted context omitted.
> Pensions sort of already are a lottery Annuities maybe, but those aren’t the only kind of pensions
That seems the definition of pension. You may be thinking of something else. pension a regular income paid by a government or a financial organization to someone who no longer works, usually because of their age or health
> A pension (/ˈpɛnʃən/; from Latin pensiō 'payment') is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work.
A pension is a financial instrument. There’s no need to purchase an annuity, which means a pension organised correctly can be passed on to your children or spouse, and there’s no lottery or gamble angle.