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Until 2021, the DWP was still using ICL VME based computer systems originating from its 1988 Pension Service Computer System to support state pension payments. [ 13 ] [ 14 ] The software was migrated to an in-house VME replacement system, in one of the largest computer replacement projects in Europe.
The chancellor confirmed that the national living wage would rise by 6.7 per cent next year, while the state pension will be uprated by 4.1 per cent, and benefits by 1.7 per cent.
Pension Tracing Service (PTS) helps track old pensions and pension schemes. [ 4 ] International Pension Centre (IPC) deals with all enquiries regarding the payment of state pension, bereavement benefits, incapacity benefits and other such benefits for those living abroad.
National Employment Savings Trust (NEST) is one of the qualifying pension schemes that employers can use to meet their new duties. It was set up as part of the government's workplace pension reforms. Nest is a trust-based defined contribution pension scheme, run by a trustee (Nest Corporation) on a not-for-profit basis.
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The Pensions Advisory Service (TPAS) was a British government body that provided free information, advice and guidance on state, company and individual pension schemes. Additionally they helped any member of the public who had a problem, complaint or dispute with their occupational or private pension arrangement.
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