UK employers want to play a game of heads I win, tails you lose, with the members of their pension schemes. They are keen, too, to draw a veil over how much they owe the schemes: perhaps they think it is not good for their share prices to be open and transparent about this.
The FT reports today on a plan put forward by the CBI, the UK employers’ body, for sweeping changes to pensions regulations. Among other things, it wants longer to make good a deficit than the 10 years currently allowed, and to move away from marking liabilities to market, which the CBI says can misrepresent a scheme’s position.
