LETTER: Are pension contribution holidays cause of losses?
When I worked in the mining industry, our pension scheme was subject to a four-yearly actuarial evaluation to assess its viability. If it was found to require any attention it was dealt with to maintain its viability.
That of course was a public industry.
It has now become apparent private industry does not have to work to the same rules.
Is the present problem anything to do with Margaret Thatcher giving a contribution holiday to employers when the pension funds were building up a healthy balance in the 1980s?
When the coal industry was ‘closed down’ the then Government took on the security of the pension funds which had been successful and took as their charge half the annual profits the fund made as payment.
Up to now it’s cost coal industry pensioners half the pension increases they should have received as members of a successful scheme.
The Government has received billions for no risk.
Carrilion shows the true face of rip off Britain in my view.
What price Brexit now?