Socialist Worker

No pearl in this oyster

Issue No. 1815

THE FALL in the stockmarket is having a devastating effect on pensions. The Pearl Assurance company has announced that it is slashing payouts on endowments and pension policies. Life insurance policies maturing this autumn will be cut by 12.5 percent, while pension policies will be cut by as much as 15 percent.

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Sat 31 Aug 2002, 00:00 BST
Issue No. 1815
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