I’ve always had major problems with pension sell offs.
I have even greater problems with them when the person to whom a pension fund is sold is itself sold – at a considerable loss.
The Paternoster Group – which has specialised in buying out defined benefit pension plans – is up for sale according to the FT. The future of all whose well being depends on it must be at risk as a result. Treating pensions as commodities in this way is unacceptable. Serious reform is needed. It’s an issue I hope to get to, soon.