Playing catch up

US Pensions

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The US pension sector is a leviathan in global terms, controlling 43% of the $10.4 trillion worldwide pension asset total - way ahead of its nearest rival Japan which holds just over 11%. US company schemes also lead the way, with General Motor's £114 billion frozen plan the world's largest corporate fund. But despite the size of its corporate pension market, the US pension industry conducts less bulk purchase annuity (BPA) business than the UK.It is known locally by a variety of names, but

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