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UK financial services group cuts pension liabilities 10% in 6 months

A financial services company has reduced its pension liabilities by a tenth, or more than £100m, in just six months in a dramatic example of British workers increasingly leaping at the offer to cash in their final salary benefits.

Liabilities on the unnamed company’s £1.5bn defined benefit pension scheme fell at a pace not seen before in a UK company, according to Aon, the pension consultancy.

The revelation comes as companies sponsoring traditional “final salary” pension…


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