Thanks for that. The burning question though is that if, for example, one has, say ten years accrued, does that ten years preserve at ten years worth of 48ths of present salary, then uplifted in line with inflation or X% every year? This would be bad in terms of not having a DB scheme any more, (better than having no Company of course) but at least a return on contributions as promised is there. The nightmare would be if the Company said - deficit is XXXXX% and therefore, (for example), all your contributions are now worth 30% of what you thought, and this number is frozen in space and time till you retire. Given inflation, this would be a huge hit below the belt - I don't think the capital is available to purchase a third house anyway!!!!!!
Surely BALPA would not surrender the scheme just like that???
