On Working Lunch (BBC2) yesterday, Sir Digby Jones (DG of CBI) stated that companies with pension surpluses could NOT "keep the money for a rainy day" - they either had to take a contribution holiday or improve benefits to existing pensioners. This, he stated, was "the law of the land". Obvious which one most companies (esp. 'New' IBM) will take !! However, to my mind, it raises the question as to why we can't have a "bonus" (i.e. one-off) payment during surplus periods ? (after all, it is OUR money !)
(If you have broadband, you can watch the programme via the link below)