The usual suspects - the usual irrelevances...
This is developing very well, but unfortunately as ever has become a debate between people defending their current advantages and those who (not un-naturally) envy them, and see no reason why they should go to the barricades over issues which cannot benefit them.
I regrettably side with those who feel the 'divide and conquer' strategy will win out. I think the pensions industry has been terminally screwed by that arrogant Scots b@stard in No 11, aided by the moral Scottish coward next door. However, that won't advance things. The market isn't really recovering, the deficit is not going to go away, and without any doubt at all, more and more Companies will follow Renotkil, and within 12 months, there will be an airline doing it.
Now, just for once, maybe we should accept things are not as we would wish, accept we will not get support from those not affected, and try and optimise the coming debacle. Even if the scheme is closed, there will be a deficit remaining, and it is NOT necessary for BA to top that up if and as and when they close the scheme. What we must ensure is that every accrued benefit IS protected and paid for, because that is not a given either. If the scheme were to wound up ( a different terminology which could apply if BA successfully made the case that the size of the deficit imperilled the Company's future) then they could freeze the fund, and make smaller contributions thereafter, probably equivalent to the DC scheme. That's what I would do, and then say the playing field was level, so sorry etc etc. How much sympathy do you think would be forthcoming from the existing DC members. I wouldn't have any for us if I were in their shoes - would you? (Well, not to the point of going on strike anyway!)
So, let's be realistic, let's not try and fight a war we can't win, but make bl00dy sure that what we are owed thus far is at least funded properly. This is not defeatism, it's realism - anyone thinking otherwise is deluding themselves, things are going to start going down the toilet in a National sense fairly shortly as Gordon's overspending finally comes home to roost, the Market will falter, some bigger names will start going down and more than a few Financial Directors will start doing basic sums on their calculators. The workforce is already split, Willie will need to make his mark in a big way sooner rather than later, we need to be ready rather than have our heads in the sand.
I wish I was wrong, but I don't think I am.
(Just read the Re Heat post - unfortunately I have to agree with every word.)