Yes, but there is an other interesting thing. Holland is a country where they've made a lot of changes in their plan. They had a lot of young people to participate in the plan. One of the things they've done there is that for older people, once they've retired, inflation protection is not guaranteed. It's really contingent on having a surplus, if you want, in the plan, and at least it's a way for the retirees to share in the risk. When you do that over a long period of time, you reduce the overall cost of a pension plan, and the more you can share the risk with a larger population, the better it is.
On April 21st, 2009. See this statement in context.