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Businesses raise pension longevity estimates
The average business in the UK has increased its estimate of how long pension scheme members will live after they retire by three and a half years since 2004, according to KPMG's 2009 Pension Accounting Survey.
The UK Pension Regulator has been pushing businesses to use more realistic estimates of how long members will live after retiring, a calculation which has the effect of raising estimates of liabilities significantly.
The survey also found that UK companies are reserving an extra £40bn to pensions liabilities because of uncertainty in financial markets.
Post Date: June 15th, 2009
The UK Pension Regulator has been pushing businesses to use more realistic estimates of how long members will live after retiring, a calculation which has the effect of raising estimates of liabilities significantly.
The survey also found that UK companies are reserving an extra £40bn to pensions liabilities because of uncertainty in financial markets.
Post Date: June 15th, 2009
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