Major Labels

EMI’s New Challenge: $365 Million Due Pension Fund

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image from Just when EMI looked like it had found a  little breathing room, comes a new challenge. The UK Pension Regulator  may force the indebted label group to fund a $365 million (£250 million) shortfall in its pension fund. The fund covers 22,000 members, with  just 500 still working and contributing  It has about $1.3 billion (£900m) in assets.

EMI is saying that the deficit is much closer to $15 million. But a recent accounting by EMI's hown olding company Maltby Capital Ltd. admitted a deficit of between $15 million and $292 million (£10m to £200m). They claim the wide range of the estimate is the result of different actuaries using a variety of methodologies.

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  1. WOW. Yet another example of why pension fund managers need to be fired, as a species, ASAP. Do they just fork over checks to ANY idiot with glossy prospectus?

  2. loving that margin of error. the deficit is roughly £10 million, accurate to within one thousand nine hundred percent.
    i’m in the wrong job…

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