The new single-tier pension being introduced in 2016 as part of the Government’s pension reforms, could leave as many as 20 million people worse off, a new report has warned. Millions of low and middle income workers, particularly those who are years away from retirement, could be thousands of pounds a year worse off, according to the TUC. Approximately 20 million Britons – mostly private sector employees – are currently part of the state second pension scheme, introduced 10 years ago to boost pension levels for low earners but set to be scrapped when the single-tier scheme is introduced. The…
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