Pension overhaul at the Bank of England

The Bank of England has traditionally had a generous final salary pension scheme, but it is now reported that it intends to close the scheme and raise the retirement age of new staff from 60 to 65.

The British newspaper, The Sunday Telegraph, reported on 7 July that the governor of the Bank of England, Mervyn King, had written a three-page letter to the central bank's staff, saying that the government's "new age-discrimination regulations" had unexpectedly delayed proposals to introduce a new

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