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Lloyds blames low rates as it slashes 3,000 jobs

Lloyds Banking Group is to cut 3,000 jobs and close 200 extra branches by the end of 2017 in anticipation of long low interest rates. The news comes on top of the 9,000 job losses and 200 branch closures announced in 2014 as part of Lloyds Bank’s second group strategic review. Lloyds reported a £2.5bn […]

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Steve Webb: Why we must stick with the triple lock policy

By how much should the state pension be increased every year?   Attached to this seemingly innocent question is a multi-billion-pound price tag and a great deal of political controversy. Given the tendency of older people to turn out and vote, the politics of generous annual increases to the state pension seem pretty clear. But if […]

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Dispatches exposes lack of controls on master trusts

The worrying lack of regulatory controls on master trusts has been exposed by Channel 4’s investigative programme Dispatches. In an episode aired last night, the programme revealed misleading and incorrect information touted by master trusts promoted for use as automatic enrolment schemes. One scheme, MyWorkplacePension, carried a claim on its website until February that funds […]

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Richard Harrington replaces Altmann as pensions minister

Watford MP Richard Harrington has been appointed as a replacement for pensions minister Ros Altmann. His official title is parliamentary under secretary of state at the Department for Work and Pensions. However, a DWP spokesman confirms he will be known as the pensions minister. It is not yet clear whether his brief will differ from […]

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