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Company pensions are the backbone of many people's retirement savings, but many employers are shutting them down. In recent years, many firms have switched from final salary to money purchase schemes and cut contributions. The Conservatives have accused Labour of undermining work schemes through a �5bn a year tax, introduced in 1997. Labour has so far resisted introducing compulsory work pensions, although some commentators argue this may be the only way out of the crisis.
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