Pensions experts have told MPs they were “absolutely shocked” at the level of “hidden” borrowing across UK pensions schemes, which nearly toppled some funds during the bond market crisis in September and forced cash-strapped trustees to sell up to £500bn in assets.
Speaking to politicians on the work and pensions committee on Wednesday, academics and pensions experts laid bare the risks that certain kinds of liability-driven investing, or LDI, posed for retirement savings.
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