Britain's pension cloud has silver lining
Article Abstract:
The ratio of working people to retired people is not falling as rapidly in the UK than in most European countries. Indeed, the UK is set to have the highest ratio of working people to retired people in Europe by 2025. This trend will have a favourable impact on the UK's pension position, as will the fact that the UK's pension commitments are relatively low, with state pensions accounting for only 6.4% of GDP. The UK also benefits from a large stock of private pension assets out of which future pensions can be funded.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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How account 88888 sank Britain's oldest bank
Article Abstract:
Operating the secret 88888 error account became a form of addiction, according to former Barings trader Nick Leeson in his book 'Rogue Trader.' Staff at the Barings operation in London transferred money to this account in Singapore without questioning its purpose, and the deceit was made easier by the fact that Leeson had to report to four different people. However, the bank began to experience liquidity problems as the losses made by this account grew.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1996
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