Monday, May 14, 2012

What About The Pension Deficit Michael?

Michael Izza (CEO of the ICAEW) has just published a brief review of the 2011 ICAEW results, entitled "2011: A Year of Growth for ICAEW".

He says:
"We have just published the ICAEW Annual Review for 2011, and as you will see the headlines are positive. Member and student numbers are up and income has grown, despite a tough economic backdrop in many parts of the world."
Yet for reasons that are unclear he does not say a word about the pension deficit of £40M that completely undermines that finances of the ICAEW, and is the tail that is wagging the dog of the ICAEW's drive for new members via its international "strategy".

How very odd that he doesn't mention it?


  1. Ken. Please indicate what you suggest Michael Izza and ICAEW to do about the pension deficit - it is all very well identifying the problem (which I strongly suspect is well known by all relevant stakeholders) but are you suggesting a different course of action is taken, and if so, what course?

  2. Neil, as already responded to on your identical question on Linkedin, maybe instead of burdening the members with higher subs and abandoning the "EW" base in favour of more fee paying international members, the ICAEW could review the size and pay rates of its management and executives (as many members have repeatedly asked for over the years)