Regulatory tussle delays UK pension superfunds to 2020: sources [Reuters]
LEGAL&GENL GRP PLC S/ADR (LGGNY)
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Source: Reuters
Regulatory tussle delays UK pension superfunds to 2020: sources - Reuters 5 Min Read LONDON (Reuters) - Differences over how to regulate Britain’s new pension superfunds, designed to deal with pension deficits, have delayed the first deals in this area until next year, industry sources say. The pension superfund structure has been developed by the pensions industry to narrow the huge deficits in Britain’s 2 trillion pound ($2.43 trillion) final salary pension sector. The pension funding problem is Europe-wide, as people live longer and as years of central bank stimulus actions have depressed interest rates, leading to gaps between the fixed sums the pension schemes pay out and their investment income. But through superfunds, Britain has come up with a new way for companies to get those pensions off their books. The superfunds consolidate collective assets from various pension schemes, aiming to benefit from economies of scale and manage the money more efficiently. The need for a solut
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