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Pension move sparks anger

NEWS

THE HOUSE Builders Federation has come under more fire for its decision to pull out of the Construction Confederation's pension scheme following a letter to around 100 deferred members last week.

The letter, from HBF chief executive Rob Ashmead, gave no explanation for the decision and told members to address queries to the confederation.

The HBF quit the scheme to avoid an estimated £3 million payout under new regulations in the Pensions Act.

One deferred pensioner said:'The letter is a disgrace.' The HBF was unavailable for comment.