Tax, Benefits & Cost of Living

Pensioners at 37 funds set to receive higher pensions under new system

In January, 37 pension funds are due to move to the new pension system. Although their assets fell over the past year, higher interest rates and coverage ratios mean they can distribute more money as they make the transition. Pensioners can therefore expect a substantial increase in their pensions, but experts said the change is not a reason for celebration because the transition has also cost participants a lot of money.