He thinks that the scale of pension-fund investment could be far higher than Goldman believes, and worries that this inflow could be inflating a bubble.In essence, he says, the new investment is a huge bet on higher oil prices.
In general, the scale of pension-fund investment remains limited but illustrates the potential for tapping into a deeper pool of savings.
"The rate of growth dwarfs the increase in the scale of age pension costs.
"I simply put it to Sir Fred that the scale of his pension is something people would find extraordinary [in the face of the losses].
He warned that the scale of the pension deficit, which some reports have suggested could be between £7bn and £9bn, coupled with the decline in mail volumes "could not be more serious.
In Illinois the governor, Pat Quinn, has made pension reform a priority, but has not yet convinced lawmakers to put a comprehensive deal on his desk.In the end, as with Detroit, it may take a financial crisis for states and cities to face up to the scale of their pension shortfalls.
However, Mandelson argues that Royal Mail's problems - the scale of the pension fund deficit and the need to compete with rivals in the letters business and alternatives such as email and text messaging - leave no alternative if the one-price-goes-anywhere universal postal service is to be preserved.
This is the scale of the pension problem.
We hear a finished bill from the committee is imminent but we're concerned whether the compromise they've forged sufficiently addresses the scale of the pension crisis.
The scale and growth of pension funds of directors are "alarming", said Ian Mulheirn, director of the Social Market Foundation.
An email sent by Arcadia's finance director, Paul Budge, on 20 January 2015 even suggests that less than two months before the deal was completed, Green had little idea who Chappell was and that Chappell had little idea about the scale of BHS's pension problems.
