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Aon Consulting calls for immediate abolition of MFG

Aon Consulting is calling on Opra to use its administrative powers to abolish the minimum funding guarantee immediately.

The call comes after Chancellor of the Exchequer Gordon Brown announced MFR was to be abolished in last week&#39s budget.

Aon actuarial and benefits consulting head Donald Duval says: “The MFR has been an unqualified disaster – it has reduced pension provision, damaged UK companies and distorted investment markets. We were disappointed the Institute and Faculty of Actuaries were continuing to argue for its retention, and delighted the Government has ignored their narrow sectional interest.”

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Bob Young dies after heart operation

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