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Biggest Ever Pension Rescue By Ppf

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http://www.bbc.co.uk/news/business-23243633

UK Coal has announced a restructuring of its mining operations, which it says will secure 2,000 jobs.

Under the reforms, the company's pension scheme will be taken over by the Pension Protection Fund (PPF), the safety net for troubled businesses.

It is set to be the biggest rescue so far by the PPF, and is an attempt to avoid major closures and pension cuts.

Existing employee's will take a 10% cut in pension entitlement.

Thank goodness there is always BTL and property!

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http://www.bbc.co.uk/news/business-23243633

Existing employee's will take a 10% cut in pension entitlement.

Thank goodness there is always BTL and property!

Thats not really the issue for future pensioners, the clause that makes them affordable (and the clause also govt introduced in 2006 for final salary private company pensions in deferment/closed, and will inevitably be introduced for public pensions in deferment/closed at some point) is inflation increments up to a cap of 2.5%. Eventual banking default Icelandesque style resulting in a 50%+ petrodollar devaluation followed by a few years of double digit inflation and voila, there is no pension problem

Edited by georgia o'keeffe

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Thats not really the issue for future pensioners, the clause that makes them affordable (and the clause also govt introduced in 2006 for final salary private company pensions in deferment/closed, and will inevitably be introduced for public pensions in deferment/closed at some point) is inflation increments up to a cap of 2.5%. Eventual banking default Icelandesque style resulting in a 50%+ petrodollar devaluation followed by a few years of double digit inflation and voila, there is no pension problem

Many pensions are not that much more anyhow.....I thought the inflation target was 2% so shouldn't be a problem...... ;)

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  • 238 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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