John Wright Posted October 20, 2006 Share Posted October 20, 2006 Actually it isn't. It is claimed in the report to be the amount needed to pay the existing pensions. I agree it may be nearer the amount to pay the accrued pension rights of all namely those who already darw, those who are paying in and those who have rights but have left the CS. It will need to be anj actuarialy calculated sum which by investment and use of income will cover all liabilities out of income and capital so that when the last one dies and no more pensions are payable the fund will have just run out. 10% is already there, there are other substantial reserves which could be transfered. Certainly if it were fully funded that would reduce the need for as substantial reserves because a fall in income would not have prior charges upon it to pay for civil serveice pensions before current wages and reveneue and capital expenditure Link to comment Share on other sites More sharing options...
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