UK life insurers are being forced to provide against the upward revisions of mortality expectations. For instance, Investors Chronicle notes that Prudential
set aside £312m in 2007 to meet the changes in mortality.
The British regulatory body Financial Services Authority (FSA) has been quite vocal to the UK life insurers over the pressing need to place more funds in reserve to cover the cost of people living longer.
www.searchaccountant.co.uk
This just covers private sector pensions offered by the companies. UK public sector pensions are another matter and represent a growing problem that Prime Minister Gordon Brown is doing nothing about. Any reform will probably have to start with
the gold-plated pensions of MPs, since they can't keep these if they start cutting the pension entitlements of civil servants.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment