These underfunded liabilities are only for those that still have defined benefit plans.
Of course the current stock market crash is killing defined contribution plans, which will delay retirements (including mine.)
“Most governments have moved to defined contribution plans, and away from defined benefit plans. These underfunded liabilities are only for those that still have defined benefit plans.”
For new employees. Defined benefit plans are grandfathered in for older workers and retirees.