I really wish the G&M would stop printing biased, partisan articles that can be refuted with even the most minimal thought. 

Your benefits are based on your contributions, years working, etc. So when you retire, they do the calculation and that's it. You don't get to 'dip into the surplus' some years after you retire. So the idea that existing retirees will gobble up the benefit is ridiculous.

And if the market under-performs, chances are, they will do what they've done before which is to reduce the inflation indexing. So the 'existing retirees' will receive LOWER benefits, thus helping to pay for the benefits of those still working, which is THE EXACT REVERSE of what the article is suggesting. 

Bad job G&M, not that you seem to care anymore.