According to pensions news, just 25 per cent of employers believe that their defined benefit pension schemes are a key business risk. Some 75 per cent believe that they have brought this risk under control.
Pension scheme risk, according to the 2008 Aon Consulting Employer Survey, does not stand out for most employers. Defined benefit schemes, many of which are worth more than the businesses themselves, are held by around 25 per cent of employers.
Senior consultant and actuary at Aon, Paul Dooley, reportedly commented: "It is encouraging to see employers consider pension scheme risk alongside other commercial risks. Corporate decision making can be improved by understanding how pensions risks are related to other business risks, both in terms of the potential size of risks and the links between them. In the current economic environment, it will be even more valuable for both companies and trustees to understand the sponsoring employer's business risks when taking decisions on the financial management of pension schemes. Where companies are experiencing trading difficulties it is crucial that the Pensions Regulator supports those employers that are working together with trustees to meet their common goals."
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1998 - 2008 UK Pensions - Planning before, at the onset and during retirement.
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