I undestand what you are saying but retirees are not what people mean when they talk about Capital. They are talking about executives, fund managers, billionaires, and so on. People who actually control much of our society. Yes many of the funds are managing the retirements of working people but that does not necessarily need to be the case, nor do those retirees have any active ownership of the companies those funds invest in.
Right but the majority of people holding significant amounts of capital is retirees or people saving for retirement. There is a small minority of people wealthy for other reasons. It doesn't really make sense to strongly associate these people to "capital" since they are a small minority of capital holders.
