Pensions are they good value

Something strange about Pensions. Here is my view. Someone you have only met once or twice contacts you they say you need a pension!
The rules around this are you give a chunk of your wages for the next 40 years there is a bonus here there is no tax on money going into a pension. Now the pension company will not guarantee to make a profit for you but they will continue to take fees from you for borrowing your money profit or not! When you reach the age at which you wish to stop work then you can buy another plan with more fees that pays you back the money you have paid in. Guess what then you can pay the tax on it too
Somehow non of this seems right. So lucky you the Government now are to raise another tax sorry pension contribution scheme because you can’t be trusted to do this yourself.
Have I got this right?

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