How the Church deals with its pension deficit is not just about money, but about its management competence and integrity.Britains largest employers have poured roughly £175bn into their underfunded pension schemes over the past decade, but have made only a modest dent in shortfalls because liabilities are rising so much faster than asset values.See FT website (paywall) See JER FTfm article "Understated costs a poor legacy"Rather than taxpayers taking on a £9bn deficit, we appear to be making a £28.5bn windfall a conjuring trick on a breathtaking scale!
NB Mercer's figure of £175bn deficit contributions by the FTS350 over the last 10 years is much higher than the £55bn to £60bn figures suggested by the ONS.
I have asked Mercer to make their figure available to identify the difference.
NB The NAPF is now admitting that it does not want to smooth pension assets and liabilities, rather it wants to magically shrink the value of liabilities by applying a high discount rate.
See JER's FTfm article December 2012 Lawmakers head back to Springfield in early January to try to tackle the states massive pension crisis.
Nor does it appear the institutional checks and balances work to protect the public.
security crisis for Barack Obama The new Archbishop must face up to the Churchs pension problems, not sweep them under the carpet, which, sadly, has happened for many years.
JERResearching the generational effects of any changes proposed in the pension sector has become standard practice.
Last year, the Netherlands Bureau for Economic Policy Analysis (CPB) had to develop a method for such calculations entirely from scratch.
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