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The government is due to make a decision on both reports by May, and ministers are under pressure to address the expected rise in the cost of pensions as a result of increased life expectancy and the increasing ratio of pensioners to workers.
The cost of pensions tax relief Tax relief on pension contributions is worth £34.8bn a year.
Looking further ahead, a faster pace requires reforms to reduce the cost of pensions and employment.
To calculate the cost of pensions, one must use a discount rate on future liabilities.
All of the solutions being canvassed would add to the cost of pensions.
If firms made full provision for the future cost of pensions, their earnings would be smaller.
The cost of pensions is soaring, yet contributions being paid in have remained stable.
This should coincide with firms coming clean about the real cost of pensions.
The government actuary's department is entrusted with estimating the cost of pensions for the Treasury.
The economics of longer working lives are about more than the cost of pensions.
The government says it needs to reduce the cost of pensions for public workers, which it says are unaffordable.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com