Sure, we have pensions from companies too as a part of out pension system, but IIRC they are dependent on wage and shunted into special funds which the company can't touch. Of course, they can lower the pension from work done going forward, but can't touch the stuff which is already in the funds, given as a compensation of past work. Peak oil is not an energy crisis. It is a liquid fuel crisis.
Pensions are part of the compensation to workers for--you know--working.
The company could have paid higher wages, but chose to promise to pay pensions instead. When companies reneg on pensions, they are stealing, literally. Unfortunately the courts do not mind. The Fates are kind.
Cutting future pensions from work being done in the future is not stealing, it's cutting wages. The same thing as raising nominal wages less than inflation. Peak oil is not an energy crisis. It is a liquid fuel crisis.
