Eglnyt::
The three main factors expected to cause that increase in liability are increased life expectancy, an increase in forecast inflation rates and a reduction in the expected rate of return on investments
Why were these three factors not taken into account before we arrived at where we are now?
They seem fairly obvious and could they not have been rectified some time ago ?
An increase in life expectancy has continued since time began, so no surprises here.
Forecast inflation rates always vary, and the worst case scenario should have been factored in to future plans, or at least they should have erred on the side of caution.
Investments should be wise with little risk attached.
I still feel things have been badly managed, and it is wrong for all the staff to be penalised for their incompetence.