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September 28, 2004

Top actuary talks tough on pensions

People will have to accept smaller pensions, save more or retire later, according to the new president of the Institute of Actuaries, Michael Pomery. In his inaugural speech to the professional mathematicians who advise pension funds, Mr Pomery criticised means-tested benefits and said: "A highly simplified universal state pension at a level which avoided means-tested benefits would have tremendous advantages.

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Posted by Tom Troceen