Wells Street Journal: Pension firm trying to pass the time

With the biggest pension reforms in a generation less than two weeks away, pension providers and administrators are no doubt working flat out to ensure they are ready for 6 April.

Equiniti, however, appears to have more pressing matters on its mind.

According to a press release which dropped into WSJ’s inbox this week, the pensions administrator has analysed over 800,000 pension payments to find out whether those born in a particular month receive higher pension income.

Apparently unconcerned about creating the impression the company has run out of things to do, Equiniti informed journalists that people born between September and February receive an average of £132 more per year than those born between March and August.

August-born retiree David Radford says: “It was bad enough feeling inadequate to kids with September birthdays in school, but to be told they’re dining out on bigger pension pots now feels like a slap in the face.”

Sources say other Equiniti projects in the pipeline include counting the number of pens in its office and analysing whether people with brown eyes are more likely to splurge their pension pot in the first year.  

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