Spartacus The exceptional investment performance of the fund in the 1990s was in days where returns of 10-15% and even 20% were regular. When you got returns like that, the investment supergrowth negated the need to fund the scheme's obligations with contributions. Those sorts of investment returns are now as rare as hens teeth. We've seen falls in investment values of £36.5m in 2011 alone. Looking at the global economy, compound returns of 5%-6% at most looks likely over the past decade. That means that in the absence of supergrowth, the funding of the scheme can only come from taxpayer contributions, which is precisely what I have been saying all along. And in the meantime, the liabilities continue to grow and compound to the extent that the debt obligation swallows Guernsey's finances altogether. Again - exactly as I have been saying all along. Did you sleep through the financial crisis or something? Do you think its over? The US is bust, most of the EU is bust and the UK's debt levels are only slightly better than parts of Europe. Wake up to the reality that the world's finances are in a mess and you'll soon realise what Guernsey's public sector pension scheme is completely unsustainable. Exactly as I have been saying to you all along.
Voice For Victims
Voice for Victims is a campaign aimed at promoting the rights of those affected by child sexual abuse.
