Is the end nigh for Defined Benefit schemes?

May 12, 2015 Tom Murray

Greek debt deficit defined benefits Pensions UK

The biggest shock of last week in the pension’s world came with the announcement from Lufthansa that their defined benefit pension scheme deficit had now gone over €10 billion. This is a frightening figure – to put it in context it is up 41% since the end of 2014 and it equals the entire national debt of Bulgaria. While some of this increase is due to the current low-interest rate policy of the European Central Bank and will be ameliorated over time, nevertheless it is still a huge problem for the company which posted an operating loss of €133 million in the first quarter of this year.
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Money (That’s What Motown’s Pensioners Want)

December 10, 2013 Tom Murray

defined benefits Pensions taxes pension benefits marvin gaye

The Motown label’s first hit was Barret Strong’s “Money (That’s What I Want)” and it went to number 23 in the US charts in 1960. 53 years later and the song will be echoing through the Detroit suburbs as a landmark ruling by Justice Rhodes in the Detroit municipal bankruptcy case means that pension payments to retired city employees could be reduced.
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Sweet charity leaves a sour taste in the mouth

July 03, 2013 Tom Murray

schemes defined benefits Pensions UK defined contributions

The news that charitable organisations throughout the UK are in trouble with their defined benefit pension schemes comes as no surprise. Even charities cannot be immune from the inherent instability of these schemes.
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Canada refuses to play games with DB pensions

September 06, 2012 Tom Murray

Minister Flaherty recession defined benefits G20 Pensions

Stephen Harper’s government has done Canada proud by resisting the temptation to follow the US down the path of relaxing financing rules for defined benefit (DB) pensions.
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Benefits Canada: PRPPs set the course for reinventing plans

July 09, 2012 Tom Murray

Benefits Canada db plan defined benefits longevity pension plans

By Tom Murray, Head of Product Strategy, Exaxe.
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