The UK government has come up with a plan to pay the pensions of employees who would otherwise lose their pensions when companies go bankrupt. The pensions would be paid using the funds collected by a compulsory flat rate levy on employers. At the same time, the government is also planning to lower the amount that employers must raise payouts in order to adjust for inflation.
See "UK to set up safeguards to protect pensions", Alexander Jolliffe, Financial Times, June 10, 2003