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Originally Posted by denphone
Over the past 16 years, the BHS pension fund has fallen from a £5m surplus into a £571m deficit since Sir Philip Green bought it and l know l am no expert on anything but that does not seem right and proper in my opinion.
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And how did he have any control over that? They are controlled independently of the business. It went from a surplus of £5m in 2008 to a deficit of £137.9m a year later in 2009. Did anything happen to MOST pension funds around that time? The business then starting paying in more with a 23 year plan. By the time he sold it the deficit was £225.6m and NOT £571m.
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The OECD obtained the figures from the UK’s Pensions Regulator. In the UK the average annual return on pension funds has fallen by 0.1% every year between 2001 and 2010.
By contrast returns on pension funds in Chile increased by an average of 5% a year, 4% in Poland and 3% in Germany.
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