US pension problems on a par with S&L crisis, says Hancock

"The [pensions] crisis is on the same scale as the thrift [savings and loans] crisis and can only be solved by the US government," Hancock told delegates attending the opening session of Risk magazine's ninth Risk USA conference in Boston this morning.

Hancock believes the fallout in equities in the past few years and declining interest rates, which have caused significant short-falls in defined benefit pension plans - schemes where the employer contributes and supports the fund - have caused

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: