Re: "the pandemic has wiped out pension funds and investments"
Technically a good many pension funds were already wiped out* in that their assets didn't meet their predicted future liabilities.
Their managers may still be hoping the pandemic wipes out some of their liabilities**. However, as a member of one of those schemes I'm doing my best to frustrate that.
* Thanks largely to governments that enforced "payment holidays" based on over-optimistic projections and then became addicted to low interest rates than ensured the projections were even more over-optimistic than ever. It's in the nature of pensions that making up those missed payments is a good deal more onerous than making them at the time would have been.
** Realistically what they're probably most hoping for is a big increase in interest rates so that the payouts from their assets are restored to expected levels.