UK - The Chancellor of the Exchequer, Gordon Brown, yesterday confirmed in his pre-Budget speech that the Pensions Credit will be introduced from 2003, at a cost of £2bn in the first full year, and said it "will provide a fair deal for pensioners, tackling the unfairness and complexities of the current system."
Under the current system, pensioners on the Minimum Income Guarantee (MIG) lose a pound of benefit for every extra pound of their second pension or earnings income. Many also see their benefit dram...
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