UK/EUROPE - Pension problems faced by the UK are common across the whole of Europe, says government actuary Chris Daykin in a book published this week.
The book – entitled Pension Systems: The EU and Accession Countries Lessons for the UK – analyses the way European countries tackle pensions and the lessons the UK can draw from them.
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.