Gavin
Defined benefit pensions are the best retirement vehicle ever. However they have been terribly abused. A properly designed DBP will pay a pension for life at a reasonable price. For example, in the 80s the actuarial cost of the public service pension plan was 16.2% of salary. So 16.2% of salary went to the pension fund and not in the employees pocket. That way the employees paid for their pensions. 

Note there is no sharing of cost. The employee's take home pay was reduced by 16.2% of salary. That should pay 2% of average salary over the last 5 years of service, however employers use an un-arithmetic calculation which reduces the pension cost and purchasing power.  For example 1981 retirees with 30 years service receive a pension called 60% when its purchasing power is just 44% of average salary. Rather than the taxpayer being abused by DBPs, pensioners are. Propaganda works.