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HOUSING
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WORK AND EARNINGS
PENSIONS
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In other words, billions of pounds that we make for our employers is going to fund our elders better pension schemes while we get left with scraps.The circumstances that led to these schemes closing – consistent underestimates of rising life expectancy; low stock market returns; a long-term decline in interest rates… resulted in large funding gaps. As a consequence, many firms now have to set aside large sums of money from today's revenues to fund yesterday's promises.