It would be a little presumptuous of us to propose solutions per se, but we would like pension funds to be guaranteed, just as companies were helped, by spreading reduced benefits over 10 years. We are not opposed to this idea provided the pension fund is not penalized. This political decision would subsequently become an actuarial decision. Workers earned their pension through past employment and pensions are just a form of differed remuneration or part of their overall compensation. It would be unfair to deny workers their pension.
Consequently, we are asking the government that in cases where a company closes down, or declares bankruptcy and can no longer honour its commitments, to guarantee employee pensions, so that workers are not penalized after the fact.