The public policy agenda will thus rightly be dominated for some time by proposals for legislative and administrative measures directed at systemic risk. In a moment I will offer some of my own views on the subject.
Such a customised plan is set in motion only if the pension fund’s management has deployed its instruments to the full, and the employer or the industry involved, have done their utmost. It is important that the problems be solved as fast as is possible, because prolonged under-funding has several harmful consequences.