The combined liabilities of the largest UK charities' defined benefit schemes has reached almost £5bn, accountancy firm BDO says.
According to BDO's research, carried out in conjunction with Charity Finance, the UK's largest 40 charities have a combined deficit of £800m, having just £4.2bn in scheme assets. Children's charity...
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.