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Superannuation Rise - How Much More Will You Get?

  • The UK Government has unveiled a new Pension Schemes Bill designed to enhance retirement savings for more than 20 million people and support economic growth.
  • The Bill responds to issues caused by multiple small pension pots and aims to simplify pensions, improve value, and create large-scale pension funds.
  • Key provisions include merging pots under £1,000, implementing performance metrics for schemes, increasing flexibility for defined benefit surpluses, and driving long-term investment.
  • Chancellor Rachel Reeves described the Bill as a transformative initiative that will increase pension savings for individuals and inject £50 billion into the UK economy through the Plan for Change.
  • The Bill is expected to improve pension outcomes for savers and support economic growth, though critics note it does not address the adequacy of pension contributions.
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Craven HeraldCraven Herald
+30 Reposted by 30 other sources
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The changes to pensions starting today that could help 20 million workers

Millions of people across the UK will find it easier to manage and get more from their pensions thanks to the Government’s new Pension Schemes…

·Skipton, United Kingdom
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Bias Distribution

  • 88% of the sources are Center
88% Center
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NZ Herald broke the news in Auckland, New Zealand on Monday, March 13, 2023.
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