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TUC wade into pensions crisis

The TUC is wading into the pensions crisis claiming there are 1.8m fewer people in final salary schemes, according to its own analysis of the Government Actuary’s Departments figures.

Only 200,000 of these has transferred to money purchase schemes, resulting in 1.6m fewer with occupational pensions.

The TUC is calling compulsory employer contributions, urgent review of accounting standard FRS17 and a public information campaign to inform people about how to fund their retirement.

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