Big-name firms ditch standard pensions
22 August 2010
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Picture the scene: you walk into work, switch on the computer and find an email from your employer telling you the occupational pension scheme you have been saving into for a number of years will be shut imminently and your money will be transferred to a scheme you know nothing about. It's a discomforting scenario, but one that is happening to many workers as firms try to reduce their administration costs by ditching their old pension schemes and starting up a group self-invested personal pension (Sipp) instead.
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