Part of the U.K.’s more than $7 trillion pension industry is facing a looming liquidity crunch, according to one of its leading consultancies. Hymans Robertson says a “perfect storm” is brewing as the coronavirus sweeps through the economy, heaping pressure on some retirement plans that have already seen liabilities balloon in a matter of weeks. The slide in gilt yields since mid-February has pushed liabilities for defined-benefit schemes -- those which promise a fixed sum to retirees -- up by 180 billion pounds ($221 billion) to 580 billion pounds, the firm says. At the same time, funds face a double whammy driven ... (full story)