Posted by seumasach on June 13, 2012
The black hole in British companies’ final salary pension schemes has grown to a record £312 billion as stock market turmoil and the Bank of England’s policy of printing money have massively increased pension deficits.
13th June, 2012
In the last month alone, the collective deficit of the country’s 6,430 remaining private sector final salary funds has grown by almost 50 per cent or £95 billion, according to official figures from the Pension Protection Fund (PPF)
Posted in UK economy | Tagged: pension funds go broke | Leave a Comment »
Posted by seumasach on February 3, 2009
2nd February, 2009
The two largest pension funds in California, the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS), have lost billions of dollars in value. Hundreds of thousands of retiring state employees and teachers now face the stark choice of accepting much reduced pension checks or working past their retirement age.
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Posted in Financial crisis | Tagged: financial collapse, pension funds go broke, the states are bankrupt | 1 Comment »