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Unlock UK Pensions: Leading Think Tank Recommends US-Style Flexibility

London, England – A leading think tank has called for Britain to adopt a more flexible pension system similar to that of the United States. The Resolution Foundation think tank, in partnership with the abrdn Financial Fairness Trust, released a report proposing that individuals should have the ability to access their pension pots at any time to deal with unexpected financial challenges. Currently, individuals who access their pension before the age of 55 will incur …

Capita Blunders Affect Retired Firefighters’ Pensions, Raising Concerns about Civil Service Contract

London, UK – Retired firefighters from the Ministry of Defence’s fire and rescue service are facing significant delays and payment issues with their pensions, following a £525 million contract awarded to outsourcing group Capita in 2019. Since Capita took over the administration of the Defence Fire and Rescue Project (DFRP), retired workers and spouses of deceased pensioners have reported miscalculated benefits and lengthy delays in receiving their payments. The mistakes have left some individuals waiting …

“Betrayed by the government” – Former steelworker blasts UK government inaction over lost pensions

CARDIFF, Wales – A former steelworker in Cardiff, Wales, expressed outrage at the UK government’s inaction more than 20 years after over 1,000 people lost their pensions when the Allied Steel and Wire (ASW) plant went bust in 2002. The former workers have been fighting for the restoration of their pensions, which were lost when the company collapsed. John Benson, a former ASW worker, accused the Department for Work and Pension (DWP) of attempting to …

Guaranteeing Full Salary Pensions for Retirees: Mexico’s President Takes Bold Step

MEXICO CITY, Mexico – Mexican President Andres Manuel Lopez Obrador is proposing a new pension plan that would guarantee citizens a retirement income equal to their full salaries. If approved, this new plan would significantly increase pension benefits for workers in Mexico. The current pension system in Mexico is based on the number of weeks worked, the worker’s salary, and their age at retirement. Under the proposed plan, workers would be guaranteed a pension amount …

IBM’s Revolutionary Retirement Benefit Plan Puts Traditional Pensions Back in the Spotlight, Leaving Industry Abuzz

ARMONK, New York (AP) – IBM has caused a stir in the retirement industry with its recent decision to replace its 401(k) match with a “retirement benefit account,” reminiscent of a pension plan. This move has caught the attention of experts and industry insiders, prompting discussions about the implications for both employees and employers. The tech giant’s new retirement benefit account will allow employees to contribute to a plan that guarantees a steady income stream …

Elected Reps and Ministers Face Removal of Pensions in New Scheme, Says Syed Saddiq

Kuala Lumpur, Malaysia – The debate over pension benefits for elected officials has sparked controversy in Malaysia. Anwar Ibrahim, a prominent leader, has announced that elected representatives appointed to office will not receive pension benefits. This decision has created a stir among both the public and politicians. The issue of pension benefits has become a hot topic of discussion, with Dr. Dzul, a government official, stating that the new pension scheme will not lead to …

Government Should Make Up for Pensions, Says UAW President Fain Amid Border Security Criticism

Detroit, Michigan – The President of the United Auto Workers, Shawn Fain, made significant remarks during the union’s National Community Action Program Conference in Washington, D.C. Fain emphasized the crucial role of the government in addressing corporate pension issues and advocated for a transition to electric vehicles. The conference is a platform for hundreds of UAW members to engage in policy discussions and workshops ahead of the presidential election. Fain expressed the need for the …