I definitely believe that pension funds need to be funded. I think it's criminal behaviour when companies fail to fund their pension plans or rob them to take unreasonable risks, to pay debts, or to acquire new assets.
I appreciate that there are many companies, not just in Canada but around the world, that have seen their pension plans really devalue due to the economic downturn, so that if they had to totally pay out the plan they don't have the means to do so. If a plan is well managed and well administered by trustees, people need to be given the time and opportunity to get the plan fully funded again.
Having strong pension plans is just good public policy. We are one of the richest countries in the world. Corporations and the public sector should have good pension plans. That is always framed by a good, strong legislative framework that ensures that plans are adequately funded for those who have contributed into the plan.