Fears For Itn As Pension Deficit Grows

[The Masked Tulip]

http://www.telegraph.co.uk/finance/newsbys...icit-grows.html

ITN's accounts showed a £39.9m pension deficit in 2008, an increase of £17.1m from 2007, provoking an "Emphasis of Matter" paragraph by its auditor Deloitte over whether the broadcaster can continue as a going concern.

ITN's directors said there was "uncertainty over the future funding requirements of the ITN pension scheme". The group added the deficit could be "significantly higher" this year following an upcoming triennial valuation.

I have to laugh.

When I worked at ITV, the owners of ITN, the permie staff had a meeting where they voted not to allow the likes of myself into the pension scheme - the likes of myself being people on 6 or 12 month contracts who had none of the benefits of being self-employed and none of the benefits of being permanent employees.

I clearly remember the day they voted on it and then all came back and talked openly amongst us 'contractor staff' seemingly oblivious to how they are f ecked us.

Of course, it seemed to go totally over their heads that not having fresh blood coming into the pension scheme meant that they were, eventually, killing their own pension fund. That meeting was some 12 or 13 years ago - lol!

Nice to see that they are as f ecked as the rest of us, except all the Public Sector workers and MPs!