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.
Ned Kelly, Kylie Minogue, Mel Gibson, Elle MacPherson, Rod Laver, Shane Warne, Sir Donald Bradman …. Your boys took a helluva beating