Pensions may be cut to ‘virtually nothing’ for 407000 people – CNNMoney

What happens when a pension fund runs out of money?

One of the biggest private pension funds in the country is almost out of money, and fresh out of options.

The Central States Pension Fund has no new plan to avoid insolvency, fund director Thomas Nyhan said this week. Without government funding, the fund will run out of money in 10 years, he said.