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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