24 August 2009
Dr Ros Altmann, a former Government pensions adviser, has
criticised the Government's decision to underwrite the full value
of final salary pension schemes run by banks that have since been
taken into public ownership.
Dr Altmann estimates that the pension deficit at both Northern
Rock and Bradford & Bingley stands at around £100m each, with
deficits at the part-nationalised Royal Bank of Scotland and Lloyds
TSB reaching £4bn.
