Thursday February 20, 2020

Proceed with caution: the state's new pension plan

Sovereign annuities would seem to have the potential to benefit pension schemes, but a number of questions remain to be answered, writes Cliff Taylor.

25th August, 2012
There are two ways that schemes can buy the new annuities, and this determines precisely where the risk lies. Photo: Thinkstock

Pension scheme trustees and their members have been through the mill in recent years - trustees of defined-benefit schemes have had to grapple with major holes in their funds and, in many cases, members have had to increase their contributions, or have seen future benefits reduced.

The holes in pension schemes - more than eight out of ten defined-benefit schemes are in deficit - have also caused problems for employers, which in some cases have...

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