In Reply to: Pensions Bill 'will cost firms £400m a year'' posted by Freddy on 11 June 2004 at 06:15:11:
: Is this another drain on the IBM Pension Fund??
It's another charge ie drain - but is the worst of all worlds.
The fund will not fund a run (see what happened in the US with their fund) but is designed to give false confidence to people in occupational pension schemes. The administrator of the fund has reserved powers to reduce the payouts to whatever the fund can afford. It is a crock of sh ........