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Serps deferral could cost £5bn over 10 years

The Government is to put back plans to cut Serps entitlement for widows for at least five years and at a cost of £1bn according to the Financial Times.


The reports says ministers will delay implementation of the plan which was due to come in effect next April. It would have halved the Serps pension paid to spouses when their partner dies.


A final decision on the length of the deferral and its cost is still under negotiation between the Treasury and the DSS, but estimates put the cost of a decision deferred for 10 years at close to £5bn.


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