Feeling the pressure

Dear Editor, In the current financial turmoil it is easy to forget the long-term issues affecting pensions. The recession will end, but the pressures on pension schemes regarding increased longevity will not. Life spans are increasing by two years per decade and are costing pension schemes around £10 billion per year. As interest rates are cut to their lowest since 1694(!), the cost of risk is increasing and pension schemes need to be alerted to this. A recent survey by Club Vita, the longevity comparison club, has shown that almost six out of ten Britons are not confident that they w...