Last orders on lax risk management

“I am only here for the beer” was not the response Life & Pensions expected when asking a trustee of a major UK corporate pension fund, standing on the sidelines of an industry event, to explain how he expected his scheme to crawl out of its massive deficit.

This conversation took place two years ago and the scheme in question has continued to provoke headlines for its growing deficit and the impact this has had on the parent company’s ability to carry out its daily business. It would be unfair