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The use of international pension plans to cover expatriates and other companies unable to participate in their home country retirement plans continued to grow in 2013, according to a Towers Watson survey.

“We are seeing more companies using their IPPs as a savings vehicle instead of a longer-term retirement plan and have noticed an increase in the number of companies favoring an [international savings plan] approach,” said Michael Broomhead, director of international consulting services at Towers Watson, in a statement. “This is particularly evident in the Middle East and Latin America for local employee groups.”

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