Last week, the Bank of England stepped in with rescue measures to prevent a crisis in UK pension funds. For most people who expect to depend on a pension fund for their financial well-being – either now or in the future – news of the crisis came at the same time as news of the rescue, so we were reassured even before we knew that we needed to panic. But the rescue arrangements end on 14 October. Pension fund managers, and those who oversee them, have just 10 days to get things sorted if the problem isn’t to start up again.
Swapping a risk for a crisis
Posted on 5 October 2022 under Actuarial, Banks, Economics, Fair Value, Finance, Pensions, Regulation