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Revenue are to investigate a suspected pensions underpayments scandal that could see thousands of people in line for refunds.

It's being claimed some pension companies have failed to pay out increases under schemes that are supposed to cover rising prices.

A report in today's Irish Independent says the companies are being accused of putting the money into their reserves - and then keeping it, when pensioners die.

While a review is only in its early stages, the row is already drawing comparisons to the banks' tracker mortgage scandal.

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