Is the fact that private investment schemes are scams the main justification for social security?

Social security in the long term is just taking money and giving it back later. I am trying to understand the point.The only justification I see is if private investment managers are very bad and produce a worse risk return ratio than social security.Is this accurate? Social Security collects money now and pays it out now to different people.Is there any way to prove that? Because it sounds nonsensical....Read more