Superannuation which was share based has not been ruined. The S&P 500 for example is running around all time historic ties, so those finds should have totally recovered to pre GFC levels.
Where there was a real estate component in them, I 'm not sure because I haven't been looking at real estate figures.
The superannuations which were ruined were ruined were because people who subscribed to 40 year share based super took their money out because they thought the share market was crashing, so they have no chance of getting it back.
Having said that, the policy of a "pesnion" for the whole of retirement based on a fluctuating financial market just doesn't make sense. In the case of the previous paragraph, those who left their money in, had virtually no interest for five years, and some had to reduce the principle, which now means lower interest earnings to live on.
The key reason for this problem, and the medical crisis is that we are now living substantially longer than we were 50 years ago where a fixed Government pension was assured.
In fact some of the people bitching in this forum would have been dead and wouldn't need a job since most males popped off in their 50's and 60's.
In the 50's, the ratio of the number of people in the workforce vs those on the pension and government subsidies was great enough that pensions could easily be afforded by the country.
The ratio has now severely reduced, non-pension government subsidies have massively expanded and if the trend continues there will not be such a thing as a pension because the workers can't afford the income tax.
So Super, or self-funded retirement was seen as the answer.
Much of this generation's older people are suffering because it wasn't around for most of their working lives, so their Fund at retirement is nowhere near enough, but the next generation will have paid subscriptions for their entire working life, so should live well.