In Iceland there is mandatory retirement funds. You can choose which fund and many people pick a fund that is only made off of government bonds. More people probably don’t have a clue what their retirement fund is made off, it is just some number on their paycheck, so they participate in the stock market both indirectly and unknowingly. I think it is kind of a stretch to say that these people are doing stocks. Most people I know use every opportunity to withdraw early from their fund.

At most these people do stocks like a person who returns their compost to the city does public gardening.