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Pension warning on life expectancy

Pension schemes could be left with tens of millions of pounds of unforeseen liabilities if they underestimate life expectancy among their members, says the Pensions Regulator. In a speech to the UK Pensions and Investment Summit in Brighton, chairman David Norgrove said trustees and their advisers should review their assumptions about life expectancy to ensure they remain suitable.

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FSA tests resilience over avian flu

The FSA is to lead a six-week exercise to test the resilience of financial institutions in the event of an avian flu pandemic starting on October 13. The regulator will work with 60 organisations to test the potential impact on the UK financial sector.

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