13 December 2012
The way UK companies value their pension schemes could change after a proposal by George Osborne, the Chancellor of the Exchequer, to allow the use of historical interest rates.
Jane Curtis of the Institute and Faculty of Actuaries explains to demography correspondent Norma Cohen why this risks underfunding pensions schemes, eventually swamping the existing protection scheme and forcing a bailout by taxpayers.
Watch Jane's interview at: http://video.ft.com/v/2029750691001/Smoothing-risk-to-taxpayers