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2 Simple Charts Show Which State Pensions Are Most Likely To Enforce Benefit Cuts

A new research note from Moody's found that State pension funds were underfunded by $1.3 trillion at the end of FY15 but was expected to grow to $1.8 trillion at the end of FY17 as pensions continue to struggle with low returns. We've discussed the unintended consequences of the Central Bank's low-rate polices on pension funds multiples times (see "Pension Duration Dilemma - Why Pension Funds Are Driving The Biggest Bond Bubble In History").
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