UK. Millions may lose promised pension payout
Three million savers in defined benefit pension schemes only have a 50/50 chance of receiving the payouts they were promised, a study has concluded.
Some employers were under pressure to meet their pension obligations, the Pensions and Lifetime Savings Association (PLSA) said. High-profile cases such as the BHS collapse have highlighted concerns over the future of workplace pensions.
The PLSA said one solution could be the pooling of resources into “superfunds”. This would allow companies to pay a fee to transfer defined benefit schemes, such as final-salary pensions, to a larger fund – which would then have bigger investment opportunities.
Read more @ BBC News
