Rentokil pensions Pensioned off funds

Rentokil intends to close its defined-benefit pension schemes to current employees. Someone had to go first. But the services group won’t be the last big UK company to make this move. It is another step down the long road away from the corporate welfare state. Companies have discovered that it is expensive to promise retirees a high income protected from inflation for as long as they live. Not only are lives getting longer, but investment returns have been declining. Equity markets, which were s...