Two-Thirds Of UK Pension Funds Are In The Red - $300 Billion Shortfall Revealed
Two-Thirds Of UK Pension Funds Are In The Red - $300 Billion Shortfall Revealed
by Tyler Durden
Thu, 02/01/2018 - 04:15
https://www.zerohedge.com/news/2018-01-31/two-thirds-uk-pension-fun...
Sir Steve Webb, a former pensions minister under the recent coalition government, said Carillion would not be the last big company to fold leaving its pension scheme in jeopardy.
“The question isn’t if there will be another Carillion – it’s when,” said Webb, who is now director of policy at pensions group Royal London.
His ominous warning appears prophetic as, according to the Pension Protection Fund (PPF) watchdog, some 3,710 schemes are in deficit, putting a serious question mark over the retirement plans of millions of workers.
The PPF monitors the health of 5,588 pension pots, with some of the biggest names on the FTSE 100 running schemes with major shortfalls.
That means two out of three pension funds are in the red – to the tune of a combined £210 billion ($300 billion).
As Yahoo reports, the PPF has been called into action on two high profile occasions of late – working with Toys R Us to secure a near £10m injection into its ailing fund to protect the company’s short-term future and also sorting through the debris of the Carillion collapse.
The giant contractor folded earlier this month with debts of above £1.3bn, including an estimated £800m hole in its pension fund.
The Carillion collapse affects about 27,500 members of its various pension schemes, the latest in a long line of funds to face an uncertain future. As Webb warns:
“With two-thirds of schemes in deficit it is inevitable there will be more insolvencies and more schemes ending up in the PPF.”
The PFF typically pays members 90% of what their nest eggs were worth in the event it has to intervene to safeguard a scheme.
A report from consultants PwC last October estimated the total deficit of all the defined benefit (DB) pension funds in the UK stood at £410bn.
Comment
-
Comment by Chris of the family Masters on February 4, 2018 at 10:08pm
-
There is a CUSIP number (9 digits) which identifies a stock and its value. It's not easy to organize, but if you have a friend who is the stock broker, give him 9 numbers from your warehouse receipt aka birth certificate, quote the stock name : eg JOHN BROWN. He'll tell you what the stock value is.
-
Comment by DTOM on February 2, 2018 at 9:54am
-
I'm not sure I buy most what's been sold as the sovereign movement.
Given that it is pretty evident that the PTB can arbitrarily move the 'goalposts' whenever it suits them with regards to what is lawful / legal and the meaning of the very words used in the magical language of 'legalese' itself.
Notably the major edits to Blacks Law Dictionary in recent times...as people began to gain 'comprehension'.
I also have major issues with those individuals of the past 15 years who professed to being sovereigns and having listened to many accounts, but everytime they were asked if they were going to provide some kind of detailed blueprint for others to follow, there was always some trite response that individuals would have to go through the experience themselves.
To me, that response was always a big red flag.
So there is a way to turn everything around in a our favor, but every individual is going to have to go through the same long, arduous journey to gain 'enlightenment' and comprehension - because a base guide explaining everything can't be written?
It also succeeds in turning off the new comers who want to wake up and probably have enough problems in their lives finding time to glean the basics of the real nature of of reality.
I am of the opinion that its another distraction cul-de-sac, that is thrown out there, much like other things for people to place their hopes in, such as politicians (Ron Paul, Trump etc), rather than in themselves.
There are no rules in war...and that is the very real situation we find ourselves in.
The other side is playing to win.
They underestimate the whirlwind they are about to reap.
-
-
Very likely that's why the depopulation is on agenda. Assholes will take over all funds with no liabilities left
-
-
Don't fret over this. All pensions, unemployment benefits, sickness benefits etc, are paid directly from the individual trust funds which originated as bonds created for the newborn babies. The amounts are huge after so many years. Again, it's all dog and pony show.
"Destroying the New World Order"
THANK YOU FOR SUPPORTING THE SITE!
Latest Activity
- Top News
- Everything
KILL THE MESSENGER - Hero Journalist Featurette - In Theaters Friday
In this featurette “Gary Webb: Hero Journalist,” Jeremy Renner (Webb), director Michael Cuesta, Sue Webb and others explore the real man, investigative journ...
"Yes. One of their functions is distraction, but they also bring chaos and crime and change…"
A Masterclass Is Being Played Out For Those Who Have The Eyes To See
A question can be asked, why do Jews want a multicultural community in a host society? It is to…See More
City of Joel - Official Trailer
Now Available on Digital - http://bit.ly/2uxDibn50 miles north of New York City, the town of Monroe is a microcosm for a hyper-partisan and divided nation as...
"Less Prone excellent points and I've seen that video too. Very informative! "
"Less Prone thanks for your support! "
"Less Prone, you are exactly right! They have been harvesting fetal tissue in vaccines for quite…"
"Less Prone, thank you very much for your input/ I always appreciate your insights! "
"You may be consuming human tissue unknowingly in vaccines, food or drink. One of the cruellest…"
"Democrats pretend to be icons of democracy, but what kind of rule do they have in mind? When they…"
© 2026 Created by truth.
Powered by
You need to be a member of 12160 Social Network to add comments!
Join 12160 Social Network