GB : Strategy - DB scheme closures still leave legacy liability headaches
For many investors corporate pensions remains a fiendishly frustrating topic. Despite wide-scale scheme closures, firms are left with substantial legacy assets and liabilities to manage with no discernible endpoint. Rather than being a valuable comfort blanket for employees, the dominant narrative has come to view pensions as a corporate burden. Reported numbers are the result of complex accounting alchemy predicated on barely foreseeable long-term assumptions. In this report we offer evidence on the current state of corporate pensions across the UK and Europe and explore recent academic work on pension buy-outs.
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