A stress test of pension schemes across the European Union resulted in a shortfa...
LONDON - A stress test of pension schemes across the European Union resulted in a shortfall of 180 billion to 216 billion euros , the EU’s insurance and pensions watchdog said on Tuesday.
Nearly 180 pension schemes from 19 countries participated in the test aimed at showing how they would cope with severe, theoretical market stresses. This would have translated into an aggregate cut in benefits of 173 billion euros under the common methodology, requiring sponsors of the schemes to inject a combined 49 billion euros.
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