Uncertainty clouds the outlook for pension funds
from Financial Times
On the face of it Rahm Emanuel, mayor of Chicago; the managers of India’s Tata Steel; and the U.K. retailing entrepreneur Sir Philip Green have precious little in common. Yet all, in one way or another, are hostage to pensions blight. In Chicago, the former White House chief of staff is struggling with a $20 billion pension deficit. If half-decent pensions are to be paid, shared sacrifice is required between public employees, pensioners and taxpayers.
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