LEADING fund manager Hermes Pension Management - the asset management arm of the BT Pension Scheme - has revealed a £16.6m blackhole in its final salary pension scheme.
The Hermes Group Pension Scheme, which has around 500 members, pensioners and deferreds, says a change in the discount rate (down to 4.75pc from 5.3pc) caused by falling bond yields is to blame for...
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