The £900bn deficit in UK defined benefit (DB) schemes would require more than a year's salary from every person in the UK to fix, according to Hymans Robertson.
Over the last 15 years companies injected £500bn into pensions only to see deficits treble, the consultant said. The firm said the positions taken by most schemes in equities combined with low interest...
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.