Pension payment holidays
>If BT hadn't taken so many pension" holidays" then perhaps they would still have Cellnet
Or perhaps not. At that time the company stopping contributions was a legal requirement if the pension fund was more than a certain percentage in surplus. No corporation tax revenue on pension contributions you see...
For all I know that law still stands, but it's kind of irrelevant given the state of final salary funds these days.
Of course that state is partly due to the pension holidays, but more of it is down to a certain Mr G Brown's cunning plan to abolish dividend tax relief - again, a great idea to gather more tax revenue today at the expense of tomorrow's pension funds.
Biting the hand that feeds IT
