How much of it is because pensions are going away entirely? When i started my career, i knew people who were contributing toward pensions. Not anymore. There have been many tricks through the years to get rid of pensions, not just more contract workers, and what they have in common is no new workers paying in.

I have no sympathy for institutions doing so much to kill off pensions now being stuck with upside down funding.

Plus look at the numbers. Are they not all ridiculously low for a nation of 380m?