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Can someone explain the Pension Protection Act lump sum debate to me?


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Written on: 29.10.2009 [16:44]
Edward
Edward
Topic creator
Posts: 1
I was talking with friends at the weekend when we got on to pensions. Well, my buddy tells me that the Pension Protection Act lump sum is more of a limp sum... What's the issue? I think I've missed the big debate and now I'm in the dark.
Written on: 05.11.2009 [16:53]
Amy
Amy
Posts: 2
Basically the Pension Protection Act has affected the way that the lump sum is calculated by your employer. This means that the lump sum is now typically a lower value than before. I love your buddy's joke about the limp sum, ha ha! The 'debate' is whether this is a good or fair thing... your employer saves money, so it's a good things for them. You get less, so it's a bad thing for you. Of course, the calculation has been changed to make it 'fairer' so in theory it's good all round!
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