McClatchy files bankruptcy
I discovered the concept of pensions managed by corporations when Sears Canada went under and a ton of people lost their pensions.  I guess it&#x27;s a pretty common thing. But it seems absolutely insane to me.<p>Who in their right mind, given any choice on the matter, would want to lock their retirement into the existence and health of a corporation?<p>Until I saw the Sears debacle occur, I thought everyone basically puts together RRSP (Canadian retirement tax havens, I think 401k?) accounts and rely on their required payments into the Canada Pension Plan.  It&#x27;s much less likely that the government or a bank will fail, and the bank, unlike Sears, is CDIC backed.<p>I guess my question is: why do we allow companies to manage retirement funds?