Warwickshire County Council pension fund has been forced to take a £5m loan to fill a cash shortfall after austerity measures put a strain on its cash flow.
The six-month loan - due to repaid at a rate of 1% - made up a shortfall at the end of March to cover member payments as job cuts and early retirement initiatives by employers hit by the tough econ...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
