In fact, the main reason that some public sector funds face severe shortfalls is that politicians like Richard M. Daley and Chris Christie chose not to make required contributions.Politicians have an incentive to over promise and under fund pensions. (Just like the auto company executives.) So each individual should try to make the best arrangements he can and get as much money as he can now. Pensions can be a little like pie in the sky. Pay off your mortgage, add insulation and any home capital that pays back. Work as long as you can keep relations with friends and family strong. Diversify.