In certain cases this might not be enough, and an argument could be made for public intervention (for instance, in the case of workers near to retirement whose pension benefits would mostly derive from mandatory private pension schemes). This situation also calls, however, for measures to improve the future working of pension systems.
The current crisis has only highlighted the urgent need for betterfunctioning markets and better retirement products, if future retirees are to be guaranteed adequate living standards. 1  See Group of Ten (2005).