Bankruptcy wave threat
A new wave of bankruptcies is set to put more pressure on the Pension Benefit Guaranty Corporation (PBGC), the US pension agency that insures pension benefits of private pension plans covering some 44m of America’s workers and retirees. For fiscal year 2011, the PBGC has already reported a record $26bn (€19.8bn) deficit – the largest in its 37-year history and $3bn more than the $23bn deficit reported the previous year.
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IPE covers a good variety of very current and relevant topics. It is good to read the high-level, independent and objective perspectives from pension funds in other European countries; many of them are dealing with the same issues as we are, so it is interesting to learn from their experiences, especially when they are ahead of where we are on the curve.
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