The CAA i believe are public sector employees, we are in the same pension as they are, we are majority owned by the government (not as NATS like to tell everyone fully privatised). So why is their pension in such great shape whilst ours is in the s**t. Especially when we share the same trustees two of whom happen to be the NERL Finance Director and the NERL HR Director. Are they gambling with our pot whilst playing it safe with CAA money?
Apparently it's to do with the age profile of the members. When NATS was split off it had no pensioners and a reasonably young profile and therefore the investment strategy was more aggressive.
The CAA took on all of the pensioners at that time and so the profile was significantly different hence the fact that they are in safer havens than the NATS part.
I'm not sure this is the time to start having a go at the trustees though. We haven't made a squeak about their investment strategy till the last few weeks whn the going has go tough.
The problem is not about what is happening in the markets now it is about mitigating the underlying 42%