Lets look at this from a different perspective. 1. Regardless of the assets of the fund it is utter madness for a small island to risk a liability of over 1 billion. Present market values (bubbles) are inflated by QE and low interest rates. At some point in the non too distant future assets will deflate substantially. This will make the deficit we have now look small. As GM points out this will bankrupt the Island. 2. The Island's current fiscal deficit would be wiped out if the scheme was closed and all employees transferred to a defined contribution scheme - as just about everyone else is. 3. Civil Service staffing numbers need to be looked at urgently. They have increased substantially over the past ten years which has increased (exponentially) the liability to the pension scheme - its obvious and bound to happen. What we need is someone with the balls to take this on.
Voice For Victims
Voice for Victims is a campaign aimed at promoting the rights of those affected by child sexual abuse.
