Employers’ warning. The CBI employers’ organization sounded the alarm last month: if the government doesn’t do anything in favor of businesses which offer pension funds, they will have to shut them down (see our dispatch No. 090577). Why? Disastrous stock exchange rates this year, plummeting interest rates, increasing life expectancy… In less than a year, this explosive mix doubled the deficit of defined benefit pension schemes in the private sector, which reached £219 billion (€232 billion) in march 2009 (see our dispatch No. 090312).
hing in favor of businesses which offer pension funds, they will have to shut them down (see our dispatch No. 090577). Why? Disastrous stock exchange rates this year, plummeting interest rates, increasing life expectancy… In less than a year, this explosive mix doubled the deficit of defined benefit pension schemes in the private sector, which reached £219 billion (€232 billion) in march 2009 (see our dispatch No. 090312).
BP chooses defined contribution scheme. Within a few days, several busin
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