Power and corruption comes together. It's not rich or poor. It's a huge power with little accountability.
It's better to give power to citizens, not grab power from the people. Big government is bad, not because of any human is bad, but because the system is bad.
For the pension system, retirees do not really care about the corruption or poor return of their pension fund, as long as they are paid what was promised. If the pension fund goes bankruptcy, they would go to their big government for help.
Anyway, most people will have no pension. If only government employees get pension in the future, we can get rid of pension fund and replace with a pension tax. This will give the big government a huge advantage to recruit elites to work for government.