Britain says it won’t ditch global accounting rule to unlock pensions cash
Britain on Wednesday played down the possibility of diverging from a globally-set accounting rule which some lawmakers blame for encouraging pension schemes to prefer low risk government bonds over stock markets. City minister Andrew Griffith in February said a global accounting rule needed reviewing as it had become a "performance penalty" which trapped cash in pension schemes which otherwise could be invested in companies and the economy. The so-called IAS 19 rule requires company defined benefit pension schemes to "mark to...
