UNDERVALUED GOOD recovery play.. COSTAIN

They would still have to plug the pension deficit, millions, even if the the Final Salary was converted to say Money Purchase but they could then move on with a clean sheet. They can't keep physically keep throwing money at the problem for ever. I had the same done on me recently, one third of my companies expenses was going on supporting the old plan which was converted to a cheap, company contributes 5%, money purchase scheme. The deficit in this case was 12 million and the cost to wind it up was 5 million which was paid within months. The last resort but I expect to see more of it over the coming year.