Pension surpluses could be the next ‘pension scandal’, according to Aon’s investment consulting head Ian McKinlay.  “With a more prudent funding regime now in place, the risk of creating future surplus is now very real,” the firm says in its ‘Intouch Opinion’ newsletter.  Aon estimates that a typical scheme has a 60% chance of being in surplus within 10 years, and a 25% chance of being more than 120% funded.  “The ‘surplus funds’ scenario is clearly in the interests of the members, so no reasonable trustee is going to consider how to avoid it,” said Aon.  “It is therefore up to employers to look at the issue.” 
Investment & Pensions Europe –