Defined benefit (DB) schemes are underestimating liabilities by 1% by failing to take into account the varying rate of longevity improvements in the population, according to a ground breaking study.
The research, carried out by the National Association of Pension Funds (NAPF) and Club Vita, looked at 2.5 million living pensioners and 1 million deaths over the decade to 2010. It found that a...
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