Pensions holiday season is coming then...
On the question of the size of the surplus due to stock market fluctuations, there was a huge dip after Sept 11 but then a recovery.
As far as I am aware TAG are entitled to use some of the surplus for a contributions holiday, BUT by the same rights that give them control of the surplus, they are also legally obliged to ensure the fund remains viable.
I find the idea of TU & Trustees agreeing to a deal that would compromise all our pensions in the future very hard to believe.