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Old 4th July 2009 | 22:20
  #119 (permalink)  
teddybear44
 
Joined: Mar 2008
Posts: 72
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From: Europe
It's Commutation i.e. you surrender pension to 'commute back' to a greater lump sum than that offered as standard. These days index linking is 'capped' and may not keep up with inflation.
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