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Liquidation for British Home Stores
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 chris123  hove actually 03 Jun 16 3.33pm |
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Originally posted by Stuk
If it's underfunded then it's not really ring fenced. Two completely separate issues.
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| Stuk Top half 03 Jun 16 3.43pm |
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Originally posted by chris123
Two completely separate issues. Well they need make it one. Presumably you mean the employee contributions were ring fenced, which in a final salary scheme is the square root of sod all in terms of the overall fund.
Optimistic as ever |
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| chris123 hove actually 03 Jun 16 3.57pm |
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Originally posted by Stuk
Well they need make it one. Presumably you mean the employee contributions were ring fenced, which in a final salary scheme is the square root of sod all in terms of the overall fund. It's so that companies in trouble can't raid the pension scheme - like Maxwell for example.
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| Stuk Top half 03 Jun 16 4.12pm |
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Originally posted by chris123
It's so that companies in trouble can't raid the pension scheme - like Maxwell for example. Except they effectively did by under-funding it and betting on equities, while still drawing £580m out of the business to pay himself and his family. When he took over BHS the pension fund was in surplus.
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| chris123 hove actually 03 Jun 16 4.50pm |
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Originally posted by Stuk
Except they effectively did by under-funding it and betting on equities, while still drawing £580m out of the business to pay himself and his family. When he took over BHS the pension fund was in surplus. I read that - the trustees have not covered themselves in glory, notwithstanding the fact that long term low interest rates hurt.
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| Stuk Top half 03 Jun 16 4.51pm |
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Originally posted by chris123
I read that - the trustees have not covered themselves in glory, notwithstanding the fact that long term low interest rates hurt. That's their problem. Or it should be at least.
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| Sportyteacher London 03 Jun 16 6.07pm |
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My guess is that yacht trip from Monaco to London re: Select Committee Appt, for The Greens might not complete its journey a la Maxwell outcome. Does Mossad know of timings for sailing???
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Frickin Saweet  South Cronx 15 Jun 16 12.13pm |
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the questioning of Philip Green by MPs is great watching/listening. Live link here: It's clear that he wasn't close enough to the runnings of the business and his most senior employees were making huge mistakes that he didn't know about.
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