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Pension policy battle is joined


Government officials are up against a fast-approaching April deadline for agreeing a new approach to pensions in the face of the effective failure of the system launched in 2002.

All plausible outcomes will involve more of the oil-related tax windfall being tapped to offset the ever-deepening insolvency of the pay-as-you-go part of the state pension system. Still more interesting is the fate of the individual savings pillar. Signs are that it will be salvaged by expanding the...

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