Yellow Belly
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For the current pensioners what guarantee is there that there is enough money to purchase the annuities - assuming the underlying assets have fallen massively in value?Defined Benefit
The pension scheme will more than likely go into windup. Frst call on the assets will be the expenses of wind-up, then the pensions of current pensioners will be purchased by way of annuities from an insurance company including full allowance for pension increases.
For the current pensioners what guarantee is there that there is enough money to purchase the annuities - assuming the underlying assets have fallen massively in value?
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