The pension deficit quoted is exaggerated by the fact that it was last calculated at the lowest point of the recession as far as equity prices were concerned. The old APS scheme is actually well-funded and historically only goes into deficit briefly in extreme conditions. The later NAPS has always been under-funded but is not as bad as the last valuation shows now there has been a significant recovery in equities.
Not saying there isn't a problem, just that it's not terminal.