Quote:
Originally Posted by pip08456
So, the government makes every company to have a retirement scheme and employeers contribute to it.
The company then goes bust, the employees lose their retirement fund.
Is there a problem here I'm not seeing?
I seem to remember the same happening to Maxwell employees.
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Same thing? Truth seems to be a strange concept around here and elsewhere.
Maxwell
spent(ie stole) the pension funds on propping up the share price.
Quote:
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At that time, of course, we had no idea about the story that would break almost a month later to reveal that Maxwell had committed a massive fraud by plundering his employees' pension funds in order to shore up his companies.
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The money in the BHS fund
is still there. It just isn't enough to generate an income to retire at 60 with a final salary scheme.