Huge deficits mean around 600 pension funds are certain to collapse in the next decade, according to the Pensions Institute at Cass Business School. It says another 400 are also at risk. These funds have combined deficits of around £45 billion, a figure which could potentially overwhelm the PPF rescue fund.
Britain’s blue chips are dishing out billions more in dividends to shareholders despite a crisis in their pension funds. One investment group analysis shows that 54 companies in the FTSE 100 index have handed out £48billion to investors in the last two years despite having a £52 billion pension black hole.
Another commentator said that insufficient contributions to pension funds could leave companies with hefty liabilities which could drag on future performance and, ultimately, lead to staff receiving lower pensions if the business runs in to difficulties and enters administration.
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Following Theresa May’s shock announcement that there will be a general election on June 8, many long-term expats were left wondering if they would get the chance to vote.
On March 8, Phillip Hammond delivered the Spring Budget 2017. Among those most affected by the changes – which included the self-employed – were those who wish to set up Qualifying Recognised Overseas Pension Schemes (QROPS). Here is a brief overview of how the Budget 2017 has affected QROPS and what it may mean for you.