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Probe into UK occupational pension schemes
Probe into UK occupational pension schemes
This is a duplicate of the Blog Entry made on: 5th June 2016 06:51
This is a duplicate of the Blog Entry made on: 5th June 2016 06:51
An inquiry is to be launched into the UK's 6,000 occupational pension schemes after question marks about the future of the BHS and British Steel schemes. The government wants to reduce pensions payable to 130,000 current and ex-steel workers, to make Tata's Port Talbot operations more attractive to a buyer. Meanwhile the Commons Work and Pensions select committee is investigating the £571m deficit at the BHS scheme. Now it will also investigate how many pension schemes are at risk of failing.
'Worrying evidence'
Proposed changes to the British Steel scheme, from one based on the Consumer Prices Index (CPI), inflation measure, rather than the Retail Prices Index (RPI). could see some future pensioners 17% worse off. And current and former BHS employees who had not yet reached retirement age when it went into administration in March could see a 10% cut to their pensions....Read more here
'Worrying evidence'
Proposed changes to the British Steel scheme, from one based on the Consumer Prices Index (CPI), inflation measure, rather than the Retail Prices Index (RPI). could see some future pensioners 17% worse off. And current and former BHS employees who had not yet reached retirement age when it went into administration in March could see a 10% cut to their pensions....Read more here