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Beat the Pensions Crisis by Claire Brinn, Mr. Brian Wood

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13

The pensions crisis and the future

Pensions are not a passing fad: they have been around for a long time and are an important part of the structure of our lives. In this final chapter we reflect on the pensions crisis and consider the future for pensions in the UK.

In the current economic climate, all the signs are that the pensions crisis on a national level will continue unabated. Historically low investment returns coupled with the rising average age of the population will continue to put pressure on existing pension schemes. We expect the trend of closing of final salary schemes to new members to continue. It is likely that some schemes will also look to reduce the benefits to existing members. One example is a recent decision by a major ...

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