This unfeasibly large figure dwarfs both the annual NHS budget (£100bn) and the UK's spending on education (£81bn). It's more than five times the £37bn that the country will invest this year in defence, and makes even Sir Fred Goodwin's retirement package seem small. This corporate problem is a huge one right across the board, even if it's the Royal Mail's £8bn pension shortfall that hogs the headlines. In February, the Pension Protection Fund said 90% of the 7,800 schemes it measured were in the red, with only 812 still in surplus. Many employers have already tried closing final-salary schemes to new recruits. Now, they may have to look at reducing the entitlements of existing members - legally tricky and deeply unpopular though this may be. As if having to work longer wasn't enough ... In 30 years, 25% of the population will be over 65. That's up from 16% today, when Age Concern reckons the under-employment of 'older people' costs the UK economy £29bn a year. So your pipe-and-slippers set may have to stay on the shelf a while longer.
The 'Lord of the Fries' Paul Pomroy on turnarounds, tennis courts and trading conditions.
The behavioural economics of sustainability.
The RBS chairman and Management Today columnist takes a trip to America.
The UK renewables sector is expanding at pace, but can the capitalism of enlightened self interest save the planet?
Ogilvy UK's chief Michael Frohlich is fascinated by the inner workings of power.
Only 9 per cent of employees want to be a manager. What happened?