5th April 2007, 12:15 PM
If CAU is part of the local government pensions scheme it is indeed being subsidised as is the whole scheme by future taxpayers. If CAU was taken over by another unit its pensions would presumably be transfered to whatever pension scheme they have. However, most attempts to create independent trusts of museums etc in recent years have collapsed as a one off investment of millions of pounds was needed to secure the pensions of the staff involved. This is why they are seeking a private sector partner. I have no idea how OAU etc provide their pensions but in general private sector pension funds are in bad shape due to Mr Brown and low inflation.