Computer crash hits pensions
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THOUSANDS of pensioners and people on benefits have been hit by a massive computer failure at the Department for Work and Pensions.
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Stricken mortgage lender reveals Â£100m black hole in employee pension funds
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The government has offered to pay out a minimum of Â£250,000 to the former civil servant at the centre of a computer fiasco that left tens of thousands of farmers without any EU grants last year, it was revealed to MPs last night.
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Electronic Data Systems Corp. and Microsoft Corp. were blamed by the United Kingdom&#39;s pension and benefits agency for a computer crash that snarled payments across Britain.
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Britain faces a huge pensions crisis which must be tackled immediately to avoid future generations of the elderly seeing their incomes slashed by around 30 percent compared with those nowadays, an official report warned.
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Computer engineers were at a loss last night to explain why the Government had been hit by arguably the worst electronic meltdown in the history of Whitehall.
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The computer snafu that sent the Dow Jones industrial average plummeting 178 points in one minute on Feb. 27 was only the latest reminder of how dependent the U.S. public has become on computers -- and not just the laptops and handhelds many people carry between home and work.
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A computer network outage at The Vanguard Group, which manages $1.1 trillion in mutual fund assets, temporarily left customers unable to access online accounts Thursday afternoon.
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When stock markets fall, one of the biggest triggers of panic for private investors is the thought that their retirement savings are being chipped away before their eyes.
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Business & money: Â· Credit crunch creates Â£210bn backlog of buyouts Â· US sub-prime crisis claims more jobs and firms
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LONDON -- After continuous computer failures forced the top civil servant of the U.K.'s Department of Work and Pensions' Child Support Agency (CSA) to step down from his job this week, the government is considering scrapping a welfare case management and telephony system developed in large part by Electronic Data Systems (EDS).
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Government agrees to offer rescue package to up to 130,000 workers whose pension schemes went bust
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Ministers are set to announce more money to help workers who have lost their pensions, Gordon Brown tells MPs.
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A software upgrade caused some 40,000 computers to crash at the UK government&#39;s Department for Work and Pensions last week. The crash of the Windows-based systems took most of the department&#39;s computers offline for five working days.
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Millions must work longer or save harder to pay for the pensions blackhole detailed in an official study published tomorrow. At Â£57 billion the annual savings
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One of the biggest computer failures in Whitehall's history causes chaos at the work and pensions department.
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Computer failure points to the challenge of aging equipment.