Industry criticises 2022 as an adverse year for pensions

Results from a December survey conducted by Professional Adviser's sister title Professional Pensions revealed 54% of respondents felt the last 12 months have not been positive for the industry. This was against 36% who disagreed and 14% who voted 'don't know'. Of the respondents who said 2022 had not been a positive year, several pointed to the liability-driven investment (LDI) crisis for final salary schemes that arose from September's Mini Budget. One respondent said: "The LDI crisis was very damaging. Stock market has been volatile, pension valises have fallen and recovery seems s...