In the UK after a number of scandals of this type, these kinds of "defined benefit" pensions are now backstopped by a government agency (paid for by a levy on a

In the UK after a number of scandals of this type, these kinds of "defined benefit" pensions are now backstopped by a government agency (paid for by a levy on all pensions): https://en.wikipedia.org/wiki/The_Pensions_Regulator https://en.wikipedia.org/wiki/The_Pensions_Regulator (edit: actually it's the https://en.wikipedia.org/wiki/Pension_Protection_Fund https://en.wikipedia.org/wiki/Pension_Protection_Fund which does the backstop but the two bodies are related) There is a conflict of interest here, but regular employees aren't able to evaluate that.