Can Pensions Be Altered?

Today's OC Watchdog (OC Register) provides some framework for discussion and a little food for thought.

The article concludes with this:

Current pension reform efforts only tackle newly hired workers — and do nothing about what’s owed to current workers. If governments could reduce pension benefits of current workers going forward — not for the past time they’ve already worked, but for the future still to come — they might wrestle those multi-billion-dollar unfunded liabilities down to a more manageable size.