UK Pension Effected after Brexit

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UK Pension Effected after Brexit

After the UK decision to leave EU, it also effects the UK Pension Funding.  Clearly this election has impact the market and all funding positions of UK Financial Scheme which also includes funding positions of DB pension schemes and the long term impact remain to be seen.

Hymans Robertson has revealed that UK defined benefit pensions deficits hitting record highs seen back in February this year, increased by £80bn overnight to £900bn.

Jon Hatchett, head of corporate consulting at Hymans Robertson, said:
“Pension funds have been limited in their ability to protect themselves fully from the uncertain outcome of the EU referendum.”

Right now Brexit is the latest challenge for Europe’s pension funds, which have already seen deficits rise on the back of the financial crisis and low interest rates.

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Chris Ferguson

About Chris Ferguson

Chris formed Credence to bring credible financial advice to the offshore marketplace. Chris has been in financial services throughout his whole career, with experience in the GCC, United States, United Kingdom and Australia. Chris entered the financial services sector to enable as many people as possible benefit from freedom and choice in life by making good decisions rather than experiencing stress and anxiety over money.

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