US EditionWorkers Paying Into Pensions Could Receive £29,000 Boost From DWP - Liverpool Echo
- The Pension Schemes Bill's second reading in the House of Commons today could enable savers to see their pension pots grow by up to £29,000.
- The reforms originate from government efforts to address pension underperformance, reduce costs, increase diversification, and extend investment horizons for savers.
- Analysis shows 20 million pension savers will benefit as billions are moved into larger 'megafunds' for higher growth.
- Millions of pensioners face a 'stealth tax' as the frozen personal allowance is surpassed by rising state pension payments.
- Following the second reading on July 7, the Pension Schemes Bill moves to committee stage, with further details anticipated in the July 15 Mansion House speech.
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Workers in line for £29_000 boost thanks to landmark Pensions Bill (DWP - UK Department for Work and Pensions)
) Pension Schemes Bill could boost returns to pension saving by thousands of pounds Changes will also make it easier for savers to access and manage their pensions Working people on an average salary who save into a pension pot over their career, could benefit by up to £29,000 by the time they retire thanks to major Government reforms that will consolidate small pension pots, ensure schemes are value for money, and create larger pension schemes.…
·United States
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