Since there is no requirement that they offer [a pension] in the first place, there's no requirement that they keep doing it.

People typically take a cue from their parents' generation ? which had pension plans and retiree health programs. And they know they're making more money than their parents did.

It's kind of like watching a glacier move.

The trend from defined-benefit to defined-contribution plans has not come because employees have wanted to take on that risk. It's because employers have wanted to get rid of that risk.

I'm sure anyone who's read the paper lately would know that the likelihood [of receiving a traditional pension] is going down very rapidly.

It's clear that people currently working should factor into their retirement planning the long-term trend away from traditional defined benefit pensions. That means people need to be saving more than they are.