>>cut in value of workplace pensions
That is why you should always try to have a Plan B & C - alternative savings pot(s).
I was in a final salary scheme for quite a few years then other schemes - the only people that made money out of the money purchase schemes were the insurers .
My pension savings were little better than a Post Office savings account - little/modest growth and high charges saw to that. The annuity rates collapsed from say £10 to half that 15/20 years ago and I think they have kept on falling.
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