Whisky Galore for pensioners

whisky.jpgThe pension funding crisis is causing problems for companies, as life expectancy increases.

So the blog was interested to learn that drinks giant Diageo is to hand over whisky worth £500m ($750m) to its pension fund, to help bridge the deficit.

Apparently the pensioners won’t be expected to drink it, in lieu of their pension. Instead, it will act as collateral, and help to reduce funding costs.

Would this work in the chemicals sector? Sadly, a barrel of industrial grade alcohol probably wouldn’t carry the same allure. We’re obviously in the wrong industry.

About Paul Hodges

Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry. Paul is also an invited member of the World Economic Forum’s Global Agenda Council. The aim of this blog is to share ideas about the influences that may shape the chemical industry over the next 12 – 18 months. It will try to look behind today’s headlines, to understand what may happen next in important issues such as oil prices, economic growth and the environment. We may also have some fun, investigating a few of the more offbeat events that take place from time to time. Please do join me and share your thoughts. Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.

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