Gilt Trip: Did UK government bonds almost blow up the financial system?
Many Happy Returns
00:00
What Is a Definition Benefit Pension?
The word pension is kind of used as a catch-all in the UK and it refers to several very different products effectively. Roman's coughing Ponzi's scheme isn't what we're talking about, he says. The fourth and final pension fund scheme are defined benefit private sector schemes. These were popular for a long time, but went out of fashion with that reform you mentioned because they were an unlimited liability if markets crashed.
Transcript
Play full episode
