I too agree.
Economists talk about the 'real' interest rate on an investment.
This means the interest rate you get on your investment after you allow for inflation. Realistically, the LMF should have been set up with a longer term view on real interest rates. I would suggest a multiple of 30 or more, to err on the side of safety. We are not discussion the re-estblishement of a new life memembership program here, but the financial aspects of the current one. I don't believe that the crystal ball is any better today than in the 80's.