Risk 's Derivatives and Risk Management Summit Europe 2006: BGI’s Lindsay says defined benefit schemes will ‘die’

“I don’t have much hope on accounting or rule changes,” Lindsay said. “Social change means corporates have to pay so the model seems to be changing… I think the game is all over.”

The major risk facing pension funds, Lindsay said is mortality risk, which he described as “unhedgeable”. But he said the problems caused by the “perfect storm” of equity and bond markets moving in different directions since the technology stock bubble burst in 2001 – which was highlighted by new mark-to-market

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