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RE: The UK Pensions Deficit Time Bomb.
Excellent post.
Let us not forget Labour's pension tax raid (and others since the Seventies) by Gordon Brown's - a £10bn-a-year pensions grab from 1997.
In the late Nineties, many of these funds were in surplus – in other words they had more than enough money to meet current and future payments to retired workers.
Yes @agrostis I remember that very well. Gordon Brown was one of the worst chancellors the UK has ever had in my opinion. He saved the bullion banks from a massive short squeeze in gold by selling half the UK's gold reserves and then drove the UK's banking system to the ground in 2007/08 and we are still paying for his actions.