UK - The next 12 months will be crucial in determining the longtermsuccess of the UK pension system, the Society of Pension Consultants warns.
It says that companies have “deep concerns” about the rising cost and risk of pension schemes and elements of the government’s new fiscal andregulatory framework for pensions which need addressing.
SPC president Robert Birmingham said: “It’s no good wringing our hands and waiting until next year before addressing the problems facing individual firms that sponsor company pension schemes.
“Employers will have to take difficult decisions now affecting the solvency of their pensions schemes, the submission of their accounts,their ratings and their share prices.”
To match these concerns the SPC is to devote its annual conferenceon November 25 to a discussion of these issues, under the heading The business of pensions.
The conference keynote speaker will be Pension Protection Fund chairman Lawrence Churchill.
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