There haven't been state pension funds for decades
They were spent ages ago, and my national insurance contributions go on military contracts(*1) to create local jobs (*2), fibre optic cables that BT will charge me to use, broken software for state run services, pensioners and people requiring medical treatment now. I will not be able to retire. The problem is Parkinson's law. To keep the number of bureaucrats rising at the required rate, retirement age will increase to life expectancy within my life time. There will be no pensioners, and later, no schools as children will all be apprentice bureaucrats.
If you want to prevent a baby-boom generation taxing a smaller generation into starvation to pay their pensions then you would have to over-throw democracy because they have more votes. What remains of democracy will not last long. I can understand why you parrot the party line. If you do not become a plusgood duckspeaker, you will be sent to the front line in the war against Eastasia.
PS: You are probably right about the place I will end up, but the technical term for the retirement home you refer to is a joyfarm.
*1 A contract that is delayed, overruns its budget and if it isn't cancelled adds even more junk to warehouses full of defective weapons.
*2 The company has a local name, but the labour is done abroad.