Cogs Posted July 13, 2009 Share Posted July 13, 2009 (edited) I found myself a Trustee of a final salary scheme 5 years ago (not of my own company) that we needed to wind up two years ago. This coincided with a really bad valuation (or so we thought). As Trustees we fought the good fight and got it all funded up by the employer. What the hell happened to you in the last two years then!? You, er, give the impression here thats the last thing you'd do in that situation. On both practical and moral grounds. Edited July 13, 2009 by Cogs Quote Link to comment Share on other sites More sharing options...
Si1 Posted July 13, 2009 Share Posted July 13, 2009 What's the significance of October? anniversary of the Bolshevik Revolution? Quote Link to comment Share on other sites More sharing options...
SNACR Posted July 13, 2009 Share Posted July 13, 2009 What the hell happened to you in the last two years then!? You, er, give the impression here thats the last thing you'd do in that situation. On both practical and moral grounds. It's difficult to advocate trustees forcing companies to address pension fund liabilities if it causes a threat to the ongoing survival of the company. Surely, priority lies with current employees with families and mortagages rather than mortgage free retirees' cruise ship holidays. Quote Link to comment Share on other sites More sharing options...
Cogs Posted July 13, 2009 Share Posted July 13, 2009 It's difficult to advocate trustees forcing companies to address pension fund liabilities if it causes a threat to the ongoing survival of the company. Surely, priority lies with current employees with families and mortagages rather than mortgage free retirees' cruise ship holidays. Perhaps I was confusing him with you! Quote Link to comment Share on other sites More sharing options...
Yoss Posted July 13, 2009 Share Posted July 13, 2009 Un-Funded pension commitments! The UK's off balance sheet SIV (tick tick tick). And when private companies get the actuarial valuations....Where exactly is that additional funding going to come from? It will come from cuts to the current labour force or rises in the retirement age. I'd love to see what position the royal mail's fund is in. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted July 13, 2009 Share Posted July 13, 2009 I think sometimes you give the powers that be too much credit. Maybe there are a few clever people sat in darkened, smoke-filled rooms who do actually try and shape where things are headed, but I think most of the time bankers and politicians just flounder around like most other people, copying the latest trends and being surprised when the tulip bulbs turn out to be worthless. I agree, they don't think past the next bonus payment. Quote Link to comment Share on other sites More sharing options...
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