UK pensions will face more risks due to Brexit, it has been warned. Spurred on by low gilt yields, pension deficits climbed to a record £935bn in June, bringing on a mass of complications for defined benefit (DB) pension schemes.
Nigel Green, founder and chief executive of deVere Group, said that “companies not putting enough into pensions” was a factor in further exacerbating pension deficits.
Gilt yields fell below 1 per cent last month for the first time in history, driving up transfer values and putting more pressure on pension schemes in the process.