![]() |
The CBI today responded to analysis from the Pensions Regulator, showing that businesses continue to face significant pressure from their Defined Benefit pension liabilities. Neil Carberry, CBI Director for Employment and Skills, said: "The Pensions Regulator is right to acknowledge that pension deficits are putting businesses under pressure. Many firms are being forced to divert cash to their schemes which could be invested in business growth and job creation, and will welcome the flexibility that has been signalled. "But simply offering firms more time to pay ignores the fact that the deficit figures that are being reported have been distorted by the impact of the financial crisis on gilt yields. Pension schemes, which run over periods of up to a century, have the capacity to adapt over time to changes in the gilt yield, and to ride out economic storms. "The current approach to scheme funding forces schemes to estimate liabilities based on gilt prices on a single day. This is pro-cyclical - many businesses are being forced to pump yet more cash into their schemes, which does nothing for their key goal of delivering growth in the business. "Companies need the Government to allow schemes to take a longer-term view of liabilities by smoothing the discount rate used in liability calculations.
"This is one of the few steps the Government can take to boost growth without spending a penny." |
|
|
|
Capital excellence in the capital - S... | ||
London - Negotiable |
Life Reinsurance Associate - Bermuda | ||
Bermuda - Negotiable |
Life Reinsurance Director - Bermuda | ||
Bermuda - Negotiable |
Scotland - the price is right! | ||
Scotland / hybrid 2-3 dpw office-based - Negotiable |
Projects Actuary | ||
South East / hybrid 1-2 dpm office-based - Negotiable |
Technical Business Analyst - Internat... | ||
Bermuda - Negotiable |
Senior Pensions Manager - Assurance | ||
Flexible / hybrid 2-3 days p/w office-based - Negotiable |
Head of Pricing | ||
London - Negotiable |
Consultancy Bonanza! | ||
UK-wide / London / hybrid - Negotiable |
Service Delivery Manager - Pensions | ||
Scotland / remote / 2 dpm in the office - Negotiable |
Life Actuarial Student – Risk | ||
Glasgow / hybrid 2 dpw office-based - Negotiable |
ALM Strategy Specialist | ||
Bermuda - Negotiable |
Senior Casualty Reinsurance Actuary | ||
London - £140,000 Per Annum |
Senior Pensions Administrator - Midlands | ||
Birmingham / hybrid - Negotiable |
Senior Pensions Administrator - Scotland | ||
Scotland / hybrid 2 days per month office-based - Negotiable |
Investment Analyst | ||
South East / hybrid - Negotiable |
International Capital Management Actuary | ||
Bermuda - Negotiable |
VP Reserving Actuary | ||
London - £150,000 Per Annum |
Calling all BPA analysts! | ||
North West / hybrid 50/50 - Negotiable |
Financial Planning & Analysis Actuary | ||
London/Hybrid - Negotiable |
Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.