UK - Liberal Democrats want employees to have greater protection from pension scheme closures.
The party’s work and pensions spokesman Steve Webb spoke out amid growing fears that workers in companies with underfunded pension schemes could be at risk of losing part of their pension should their employer become insolvent.
He said workers’ rights are “woefully inadequate”.
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.