Pension plans are not going to prevent bankruptcies. It is important to understand that. However, we may want to review our current pension models with a view to making them a little less risky. They need to be better managed and there must be better governance. When plans are allowed to run a deficit, when that deficit is not absorbed quickly and when companies are fragile, we expose ourselves to pension income losses.
On the other hand, I do think some new models could be explored. In order to do that, the legislative framework in which all of our current pension plans are evolving needs to be reviewed. We must explore substantive reforms and new pension models.