In Norway, the companies are required by law to pay the pensions into a special type of investment account where withdrawal are not allowed until you are retired, but you can choose your own investment profile: A mandatory 401k.
The arrangement where the _company_ controls the account seems to me to be more of a allowed delay in salary payout, to the benefit of the company, than a retirement account for the employee.
The arrangement where the _company_ controls the account seems to me to be more of a allowed delay in salary payout, to the benefit of the company, than a retirement account for the employee.