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The UK government is set to restrict winter fuel payments for pensioners, affecting those not claiming pension credit. Work and Pensions Secretary Liz Kendall insists on increasing pension credit uptake, while critics warn many will struggle to afford heating this winter. Protests are planned in response to these cuts.
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Chancellor Rachel Reeves announced plans to consolidate the UK's 86 local government pension schemes into 'megafunds' during her first Mansion House speech. This reform aims to unlock £80 billion for investment in infrastructure and businesses, mirroring successful models in Australia and Canada.
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The UK government has revised the Winter Fuel Payment scheme, limiting eligibility to pensioners receiving Pension Credit. This change, effective from this winter, has raised concerns about the impact on vulnerable pensioners, with an estimated 10.7 million potentially losing out on support.