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Revenue solves error over 88k pensions

More than 88,000 personal pension policyholders are to finally have their policies processed by the Inland Revenue, after it accidentally switched off a computer, leaving their contracted out rebates in limbo.

A server which receives data for personal pension applications and terminations from three providers was accidentally deactivated last year.

Since the error was spotted, the Revenue has been making the delayed payments and recoveries of age related rebates to the providers. In total 87,207 personal pension applications and 982 terminations have been affected by the delay.

It expects the process be completed by the end of February.

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