In Brief

Growing pension deficits have led forward thinking companies to develop original solutions.

Growing pension deficits have led forward thinking companies to develop original solutions. The New York Times explains how Diageo, maker of Johnnie Walker, Guinness and Smirnoff, has put aside a very physical asset — 2 million barrels of whisky — to ensure the value of its pension fund.

Diageo said Thursday it would transfer ownership of £430 million, or $645 million, worth of whiskey to a pension funding partnership. Diageo employees would not receive their pensions in whiskey rather than cash, but the move does give them a guarantee that they would not walk away empty-handed should the company default.

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