The potential impact of the coronavirus pandemic could see pension liabilities increase by as much as 15-20 per cent. That’s according to the River and Mercantile Group, who believe the industry will be hit with the “perfect storm…in terms of funding”. In its Interim Financial Report, the group revealed that an ongoing collapse in gilt years together with a sharp fall across global equity markets has resulted in a major Read More….
Tag: Pension Value
The interest rate cuts announced by the Bank of England earlier in March could lead to reduced pension pot value. Steve Cameron, of pension provider Aegon, said that the rate reduction would result in a “double whammy” for pensions as annuity rates are also likely to be cut. The outgoing BoE governor Mark Carney slashed interest rates by half a percentage point to a record low of 0.25pc in response Read More….