Reader’s Digest faces administration over pension deficit

A pension fund hole at Reader’s Digest could push the UK magazine into administration and put over a hundred jobs at risk, it has been reported.The publication’s American parent group Reader's Digest Association (RDA) proposed injecting £10.9 million and one-third of the equity of the UK business into the UK pension fund, which reportedly has a £125 million shortfall.
 

It’s untenable to have a normal retirement age in public-sector schemes that is significantly different from the state retirement age

Brian Bailey, Director of pensions, West Midlands Pension Fund and member of High Pay Commission