Bermuda pensions rise 6.5%

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US - The US$388m Public Service Superannuation Fund (PSSF) will pay out an additional US$2m a year, after the senate approved a 6.5% increase in Bermuda civil service pension pay.

The move sparked funding concerns because The PSSF is not funded by government and therefore increases would have to be recuperated through increases in employee contributions. Independent senat...

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