The Government Wants to Raid Defined Benefit Pensions.
Today we will be looking at the UK government's plan to tap Defined Benefit Pension surpluses less than two years after the sector had to be bailed out by the Bank of England.
The problem with this is that with instability in the bond markets, in my opinion, set to continue it would put contributors' and retirees' funds into jeopardy as the system is highly leveraged with derivatives.
This government plan is nothing but a symptom of the desperate state of fiscal affairs the UK government is under and is nothing but a gimmick they think would help spur economic growth.
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