My father has been a Teamster with a Teamster pension for over 40 years. He retired for 4 months before realizing that his pension had be cut so badly that he couldn't survive on the payments. He went back to work and will likely will not be able to retire without help from the rest of the family. He is the hardest working man I know and has been robbed of his retirement. Disgusting.
I vowed to never invest in a pension or 401k after that. I save, preserve and invest my own money with mostly assets. If I don't have enough to retire at 65 it will be my own fault not the fault of reckless regulators and shady investment funds. It's more work for me but I feel far more comfortable being in control of my own money. Tax breaks or not.