General chat.& Random stuff

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The decision to change/amend the terms of the BSPS from RPI to CPI literally removed several billions pounds worth of Contingent Liabilities off the table for Tata: additionally Truss’ mini-Budget helped force up interest rates, which had the consequence of reducing the Liabilities of Pension Schemes.

This interest rate increase moved the BSPS into a large enough surplus to enable Tata to fully insure all its future liabilities. Therefore the Pensions’ Noose around India’s neck has gone forever.

This outcome - some 9 years earlier than originally expected - clearly vindicates the decision of the Trustees of the (original) BSPS to fight the Company and the PPF and create BSPS 2.
 
The decision to change/amend the terms of the BSPS from RPI to CPI literally removed several billions pounds worth of Contingent Liabilities off the table for Tata: additionally Truss’ mini-Budget helped force up interest rates, which had the consequence of reducing the Liabilities of Pension Schemes.

This interest rate increase moved the BSPS into a large enough surplus to enable Tata to fully insure all its future liabilities. Therefore the Pensions’ Noose around India’s neck has gone forever.

This outcome - some 9 years earlier than originally expected - clearly vindicates the decision of the Trustees of the (original) BSPS to fight the Company and the PPF and create BSPS 2.
Are our pensions safe Taff?
 
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Ned Kelly, Kylie Minogue, Mel Gibson, Elle MacPherson, Rod Laver, Shane Warne, Sir Donald Bradman …. Your boys took a helluva beating <laugh><cheers>
 
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