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Pensioners with occupational pensions will be hit by measures following the decision to link annual rises in final salary schemes with the lower consumer prices index (CPI) measure of inflation rather than retail prices (RPI).
Those at work are compelled to pay to the pensioners of today in expectation, written into the law, that their pensions will be paid by the next generation of workers.
Pensions will be cut, too.
Pensions will be protected.
Even in Illinois, pensions will be paid.
Those pensions will be paid in the fund's home currency.
Defined contributions pensions will be made more flexible.
Work and Pensions will be among the non-exempt departments facing pressure for job cuts.
That implies DC pensions will be lower than final-salary ones.
The Department for Work and Pensions will be keeping all these fees.
Jobseekers allowance and state pensions will be excluded from the cap.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com