Is it permissible to subscribe to a pension fund to receive a monthly salary upon inability to work?

A pension fund has two scenarios:

The first: It is a cooperative, solidarity-based fund, meaning its monies revert to the benefit of the subscribers and are invested in permissible avenues, and the supervising body acts merely as an agent. In this case, participation is permissible. However, most of these funds engage in Sharia violations, such as dealing with usury, and in this case, participation is not permissible.

The second: The fund is commercial, and its monies belong to the supervising body in exchange for compensating the subscriber with monthly salaries. Its ruling is that of commercial insurance, and voluntary participation in it is not permissible.