The FCA's Scheme Will Not Work, Is It?

We don't think it's going to work. What would work then? Because it's very difficult, isn't it, to replace a final salary guaranteed inflation-proof pension with something that you buy with cash now? Well, I mean, it's possible it takes money, and there are a number of solutions that our group have put to the FCA. But what the FCA itself has found is that very large groups of people were not given appropriate advice. And just as Jeffrey said, because the guilt yields have gone up and down so much this year, steel workers in almost identical positions are getting very different payouts. Yes, that does seem very unfair.