Poor investment management
Strikes me that part of the problem is the appalling mismanagement of pension finds by the City. I can't believe that any of these funds are in potential deficit when the past twenty years has seen record returns for anyone wise enough to invest in the right things - property for one thing.
Just what were the overpaid charlatans of the financial institutions doing while property was soaring in value.
Perhaps their mismanagement and absurdly high levels of self-reward are at least partially to blame for the crises affecting so many schemes such as BA.
I am now a member of a defined benefit scheme although am also a previous member of both the BA NAPS and Royal Insurance schemes both of which were financial salary and are now in deficit.
Does anyone know what is likely to be the impact on these schemes going forward if the above happens?
Desk-pilot