Privatized Pension?

How does a privatized pension work for investment purposes for a person that is in their 80’s?

SAVAGE SAYS: I? honestly have no idea what you mean by a “privatized pension”!? Please write back and explain. But if you are in your eighties and someone is trying to get you to “do” something with your money — please tell them to go away, and just leave it in the bank, or in your current investments!