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Pension funds attack shake-up plans by regulator

May 16 2008 by Tony McDonough, icNorthWest

The National Association of Pension Funds (NAPF) is today criticing proposals by the pensions watchdog to make schemes use more conservative mortality assumptions.

The Pensions Regulator wants companies to assume the average 65-year-old retiring today will live until the age of 90, around five years longer than most companies currently assume.

But the NAPF claims such a move would put its member under unnecessary pressure.

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