There's two common ways of doing pensions. One is a fund you pay into and at the end you get whatever it's worth. The other is a scheme you pay into which gua

There's two common ways of doing pensions. One is a fund you pay into and at the end you get whatever it's worth. The other is a scheme you pay into which guarantees a set payout at the end. It's that which often causes problems, because the scheme has promised payouts that significantly exceed their investments if they have assumed greater growth than they get.