Bribes to quit gold-plated pensions rise by a fifth as desperate firms try to cut the future cost of their schemes



Firms are luring staff out of expensive final salary pensions by offering them up to one-fifth more cash than a year ago.
Savers have been stampeding to cash in their gold-plated pensions under new rules which allow customers to take their retirement pot as a lump sum.
Advice firm Old Mutual says that savers are typically being offered between 10 per cent and 20 per cent more than earlier this year.
The firm said that rock bottom interest rates were partially behind the tempting deals.
This is because as interest rates fall, the amount that pension firms must pay out to savers rises.
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28 September 2016 in Business, Views: 50
Source: Daily Mail
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