We'll see plenty of pension envy in the reactions here. I don't have an employer DB pension either. 


The target benefit plan rules are trying to prevent the time bombs that some American state and municipal pension plans have become. (There may be some such bombs ticking in Canada too.) The taxpayers will be on the hook for the shortfall. 


If pension inequality is the issue, the best approach would be to take pensions completely out of the hands of employers. Everyone would receive an adequate pension based on lifetime earnings from a much-expanded CPP. For those who think themselves investment geniuses, we could provide an opt-out -- a one-way Out turnstile, no whining later if you blow it.