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Office of National Statistics UK Gov has £5 TRILLION Black hole!


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This from one of the pinks:-


"The UK owed £7.1 trillion in pensions obligations at end of 2010, of which £5 trillion was owed by the government, according to the Office of National Statistics (ONS).


In a paper published today the ONS outlined a set of complete UK pension statistics for the year 2010, which said the government has £5 trillion worth of pensions obligations of which £3.8 trillion is for state pensions and £900 million for unfunded public sector pensions.


Private sector workplace pension liabilities came to £1.7 trillion, as at 31 December 2010. The ONS said this represented 118% of UK GDP.


The ONS said this set of statistics included figures not shown in UK National Accounts, which only showed the liabilities of funded pensions, not unfunded pensions such as most public sector pensions and the state pension."







All of a sudden going "off grid" with my Cvan/MH looks very very attractive.

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Guest pelmetman
Live now Clive..................... get the kids to pay later :D...........................Ooop's looks like that whats been done before 8-)
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Guest Peter James

That was end of 2010. Will be worse than that by now http://www.telegraph.co.uk/finance/personalfinance/pensions/9232364/QE-quadruples-FTSE-350-pensions-deficit-in-one-year.html


I have a feeling that under estimating pensions liabilities is what is making company profits and PE ratios look too good to be true. By the time the true scale of this is realised the company directors will have retired on their bonuses and gold plated pensions.

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