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Companies must "pay up" and provide workers with annual pension increases in line with inflation, according to a former Labour minister. Dame Nia Griffith argued that numerous pensioners have been treated "very shabbily" as she called on the Government to eliminate a loophole in the Pensions Act 1995 that permits employers to refuse inflation-linked rises.

MPs examined pension reforms put forward by the Government, designed to deliver better returns for savers and featuring a £1,000 rule for smaller pension pots.

Work and pensions minister Torsten Bell stated: "The case for this focus is clear, those retiring in 2050 are currently set to do so with lower private pension income than those retiring today."

The Pension Schemes Bill seeks to offer pension schemes access to

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