Neil Forman It doesn't echo what you and GM have said. You have misunderstood the issue. Guernsey post is wholly owned by the States. Guernsey Post is a trading company and apply FRS17 and include the FRS17 pension liabilities but not the pension fund assets as these are held separately by States of Guernsey. Did you find the definition of "funding surplus"? If you look on the 2010 actuarial valuation (page 2515 of the Nov 11 Billet) you can see that Guernsey Post has a funding surplus of £2,702,000. You won't see that in Guernsey Post's trading accounts. http://www.gov.gg/CHttpHandler.ashx?id=3953&p=0 As you know the employer rate for Guernsey Post was decreased from 15% to 14.2% with effect from 1st April 2012. Why do you think the States decided to do that? The funding position of Guernsey Post improved since the previous actuarial valuation by £1,419,000.
Voice For Victims
Voice for Victims is a campaign aimed at promoting the rights of those affected by child sexual abuse.
