[wraymond]

All of the pension providers in every company and enterprise have committed gamblers of varying expertise and experience who invest heavily right across the share/dividend markets.

Their portfolios contain stars (and duds - until proven otherwise). Actuaries have preferences based on a combination of their personal opinions and experience and are extremely competitive but are governed by their Boards. Basically, they are sheep being chased by a dog called Lossie. So they, well nearly all of them, run in the same direction.

The mavericks amongst them never ever use their own money, but rely on those with funds to gamble with and hope for massive gains. They have ample funds to take a chance with. Every pension provider has a mix of these wizards and their results ultimately guide the pension departments of the companies and enterprises that actuarily, now there’s a relevant word, govern pension payments. In short, a high stakes game of Poker. And, as ever, every game has a pig in it.

Right at the end of this serpentine money trail lies the pensioner. The only part of it that has no control or input. But plenty of crumbs.