Alasdair Macleod: The pensions mess -- Can gold help?

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By Alasdair Macleod
GoldMoney.com, St. Helier, Jersey, Channel Islands
Thursday, June 9, 2016

The British have recently seen two unpleasant examples of the cost of pension fund deficits.

A deficit at British Steel, estimated to be about L485 million, was followed by a deficit at British Home Stores of L571 million. In both cases, pension fund deficits have scuppered corporate rescue plans, because understandably no buyer will take on these liabilities.

These two cases are the small tips of a very large iceberg, and reflect problems not just in Britain, but anywhere where pension schemes exist. They have been brewing for some considerable time, but have escalated as a direct consequence of central banking's monetary policies. They are a crisis whose cause is concealed not only from the pensioners, but from trustees and investment managers as well.

This article lays out the problem and its scale, so far as it is known, and notes that a pension fund that has a holding in gold is a very rare animal. Indeed, one of the best known examples, the Teacher Retirement System of Texas, holds less than 1 percent of its $130 billion assets in gold. ...

... For the remainder of the commentary:

https://www.goldmoney.com/research/goldmoney-insights/the-pensions-mess-...



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