Private equity bids for companies have frequently been derailed at the last minute after due diligence revealed company directors had deliberately misrepresented the true size of pension fund deficits, reports the Times .
Richard Jones, a principal of actuarial firm Punter Southall, told the paper some directors used out-of-date mortality tables. Typically, pension fund members were being assumed to die two to three years earlier than the most up-to-date actuarial projections suggested, he said. The flattering view of mortality could easily reduce total pension liabilities by 5- 10% and have a much bigger effect on deficits. THE AMOUNT of money UK households are taking home has fallen for the first time in 18 months in the latest sign higher taxes are starting to bite, says the Daily Telegraph. R...
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