Two stories from the finance pages

Blame Brussels, not us, says FSA after Prudential attack
The City watchdog has hit back at claims by Prudential that its policies are \”ludicrous\” and \”horrendous\”, insisting it is just the middle man between government, Europe and industry.

Pension liabilities may double under EU rules
Britain\’s biggest companies may each see their pension liabilities more than double to £2.5bn under \”destructive\” new European proposals, with many schemes forced to close, an analysis warns.

Can we leave yet?

4 comments on “Two stories from the finance pages

  1. What will happen when life expectancy starts to sink? Antibiotic-resistant bacteria, cancer brought on by decades of taking statins ….. one can imagine all sorts of reasons why it might. Presumably then the pension funds will be grossly overfunded.

  2. Second link. Telegraph have screwed up their numbers somewhere. 2.5bn on top of 100bn is not ‘doubling’.

    “However, the proposals, dubbed “Solvency-II for pensions”, would increase FTSE 100 liabilities by at least £1bn and maybe as much as £2.5bn, a survey by Deloitte found.

    Three-quarters of pension schemes, together representing more than £100bn of liabilities, said the proposals would increase liabilities by between 20pc and 50pc, the study revealed.”

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