The unfortunate side effect is that it shafts pensioners who should not be investing in equities because of the time scales involved. The UK (though a hefty dos

The unfortunate side effect is that it shafts pensioners who should not be investing in equities because of the time scales involved. The UK (though a hefty dose of electioneering is involved) is offering bonds to pensioners which pay a higher coupon to offset the low gilt returns available.