No. No way would I vote for a contract that had one.

Here's the reason - as we've seen, people will start to depend on the pension (rightly so) and probably not invest other money in retirement, because well, they have a retirement.

So, say we have a pension replacing the current DC contribution. Along comes some bad times in the economy, war, turmoil, COVID v2, and the company is in trouble. I could totally see the company coming along and say, "you need to take a 40% payout or we're terminating the pension." We take the paycut, then they say, "eh, not enough. Pension is going anyway" - A pension would be like a sword of Damocles over our heads. As we've seen, there is always a way for the company to take such a pension away. I really prefer having the money in my name, available to invest as I wish. I throw it in a S&P 500 fund and let it ride - if that's good enough for Warren Buffett, good enough for me.