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. He also serves as a Global Expert for the World Economic Forum. The aim of this blog is to share ideas about the influences that may shape the chemical industry and the global economy over the next 12 – 18 months. It looks behind today’s headlines, to understand what may happen next in critical areas such as oil prices, China and Emerging Markets, currencies, autos, housing, economic growth and the environment. 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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