Longhitter,
Are you sure? If any pension fund manager sees an employee leave the scheme before retirement date, then the long term liability stops there. OK they have to payout that employees pot (less a fat fee me thinks) but compared to the amount of money needed to cover that employees life expectancy ......
I know a couple of retired BA pilots who are both fit and healthy and in their late 70's - they could go on another 20 years.
Given a current 55 - 60 year old pilot in good health and earning 100K, no wonder the deficit is so big.
How much would you put aside to cover such a person for potentially 40 years of pension?
Just my take on it.
Sir George Cayley