You know, DB schemes are collapsing all over the place and suddenly it is not the fault of the investment managers who took their eye off the ball, or the Wall Street "geniuses" who invented the crazy schemes which allowed private bankers to keep the investment ball rolling and rolling when there was almost no underlying asset; schemes which led to the banking collapse. No, suddenly it is the fault of workers who joined a company many years ago, signed up to a contract which included a MODEST pension, not one worth millions, and now their fund is worth so little that pension is halved. But it is their fault for believing they deserve that pension after 20-30-40 years of faithful service???
Yes,it is reality that the funds will not provide the promised pension. But the DC schemes everyone has to go into now - they leave the worker open to total scamming by the employer. 2018 Oh gosh, you're retiring now - what a pity the DC scheme has made a loss over the last year or so, you're going to get 1000 a year - if only you could hang on for another couple of years, it might improve? I can see it now...