A comment on Defined Benefit pensions:
A defined governmnt pension is for all practical purposes "0" risk - whereas a private company defined pension is in fact unpredictable since future long term busines experience may vary and terminate the busines. If the latter happens and the plan is underfunded for current life expectancy there is no recours to add $$. Thus no private busines can in fact assume the risk inherent in such defined pension schemes.