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RCTCBC has a £500 million black hole in its pension fund?

Taken from Pontypridd site.

You should have been in the council chamber tonight! RCTCBC has a £500 million black hole in its pension fund. I'm waiting for some one to tell me how that is being "re-written".

Little wonder if this is correct it is easy to see why Rhondda Cynon Taf Council will stop at nothing to extract money by devious means from vulnerable people.