Pension blunder sees thousands of workers given wrong forecast

Pension blunder sees thousands of workers given wrong forecast

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 · Tens of thousands of pensioners could undergo major changes in their finances as a result, with some losing up to 50 percent of their salary. Others could see a significant boost to their income, with some who have not received the correct amount being given backpay and a future raise.

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 · Thousands of post office workers forced to take pension benefits cut. About half the Post Office’s 7,000-strong workforce is being forced to shift from a final salary pension scheme to a defined contribution scheme, a move that unions say could cut retirement benefits by 30% or.

For people who reached state pension age before 6 April 2016, the basic state pension is currently 122.30. From 6 April this increases to 125.97. For people who reach state pension age on or after 6 April 2016, the ‘single-tier’ state pension is currently 159.55. From 6 april 2018, it will increase to 164.34.

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Pension blunder sees thousands of workers given wrong forecast money (uk) state pension blunder sees hundreds of thousands given incorrect predictions. dailymail.co.uk – Ben Wilkinson. Incorrect state pension predictions have been given to hundreds of thousands of people, the Government has admitted.

State pension data blunder sees 360,000 people given wrong forecasts. independent.co.uk – Ben Chapman. The government has admitted that a "significant problem" resulted in hundreds of thousands people being told they would get a higher state pension.

State pensions blunder sees 360,000 workers told they’ll get paid wrong amount. People are being encouraged to go online and get a state pension forecast to find out how much we will receive and when

Leveraged loan risk not enough to warrant new rules for now: Basel. LONDON Regulators are stepping up checks on the $1.3 trillion leveraged loan market for threats that echo the subprime mortgages which defaulted 10 years ago, but new rules are not needed for now, the Basel Committee’s secretary general said.

In such cases, the pension scheme has made a promise to replace part of the state pension that the worker would otherwise have received, and in return for this the worker and the firm pay a lower.

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