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Perspectives on pensions

The world of pensions is changing and auditors will need to be prepared for the impact of auto-enrolment. Liz Loxton offers a glimpse of what’s on the horizon.

The developed world is teetering on the brink of a pension crisis. Longer life expectancies, lower birth rates, fixed retirement ages, and under-funding in public and private pension programmes have all helped to create a gulf between pension obligations and the resources available to fund them. So pension reforms have become both inevitable and essential.