Sorting Out the Pensions

Sandy McLachlan

Chapter 8 in The National Freight Buy-Out, 1983, pp 95-101 from Palgrave Macmillan

Abstract: Abstract It is doubtful that even a dozen people understand all the implications of NFC’s pension problems. On top of the historical problems — some British Rail employees are in NFC funds and vice-versa — there were actuarial (i.e. valuation) and political problems to be solved at the time of the buy-out. There is no denying that the details are technical, but equally there is no denying just how important they were: the Government gave back more than 80 per cent of the £53.5 million it was paid for NFC to put the pension funds back onto a footing that would be acceptable in a normal commercial enterprise — where there is no automatic government guarantee to make good any shortfall in the pension fund and so the company itself has to transfer money to guaranteed pension funds.

Keywords: Pension Fund; Pension Scheme; Retail Price Index; Pension Liability; Future Liability (search for similar items in EconPapers)
Date: 1983
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-06850-0_8

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DOI: 10.1007/978-1-349-06850-0_8

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