UK - Demand for residential property will fall during 2004 due to high levels of consumer debt, global real estate services firm, Jones Lang LaSalle, forecasts.
The firm – which owns property fund manager LaSalle Investment Management – believes that first-time buyers will continue to shy away from the market as affordability pressures bite, leading to a reduction in overall demand as their absence filters through the market.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.