World's best-run pension funds say it's time to start worrying

French lawyers attend a demonstration to protest against pension reforms in Paris, France, September 16, 2019. REUTERS/Charles Platiau

COPENHAGEN: Back in 2012, the world’s best-managed pension market was thrown a lifeline by the Danish government to help contain liabilities. That was when interest rates were still positive.

Seven years later, with rates now well below zero, even Denmark’s $440 billion pension system says the environment has become so punishing that it may be time for a change in European rules.