Summary
THE new Pensions Bill could hit hard-pressed schemes with up to Pounds 400m a year in extra costs, a leading consultancy warned. That is a far cry from the Pounds 80m annual savings the government predicts. Watson Wyatt says Pensions Secretary Andrew Smith has underestimated the risks that a company collapse will leave a big pension scheme underfunded, sending the costs to his new crisis fund soaring.
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New Pensions Bill Raises Costs Alarm
SHARES in Provident Financial fell 191/2p to 633p after it...
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