Pension funds see huge deficits

The government’s Pensions Regulator has warned that Occupational Pension Schemes are failing - with deficits of up to £400 billion.

The regulatory highlights poor controls and planning, especially in smaller pension schemes, and is seeking active intervention in as many as 300 of them.

The news comes as yet another blow in the pensions crisis, which has at least in part been caused by government regulations intended to liberalise pension saving into the open market.

And while many people under 30 would ordinarily not consider it a matter of urgency to take out a pension, with the continued pension crisis in action, what most may be asking is why bother at all.