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Pensioners have been issued a huge retirement boost as a new scheme gets the green light from the Labour Party government. Research shows Collective Defined Contribution schemes could boost retirement incomes by up to 60% while providing more security.

CDCs pool pension schemes into a collective fund giving workers regular pension payments for life, more security and higher average retirement incomes throughout retirement when compared to individual pension pots.

The new regulations will allow the expansion of CDCs to more employers and will address a growing demand among workers to receive a more secure retirement income.

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Labour Party Minister for Pensions Torsten Bell said: "Too often

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