Problem with final salary scheme

Debt_Free_Chick

Dannyboy

I do understand you being cross. I think the difficulty is that the trustees would have had to trawl through their records and find everyone who had a quote on the old basis, then write and tell them of the new basis. (The change in calculation should have been reported in the Annual Report & Accounts, but who reads them?!)

You could, of course, have taken the early quote and then find that the basis was made more generous. Unlikely, I know, but I think it's a case of "swings & roundabouts".

Looks like you'll have to buy a lottery ticket this week

deemy2004

MY cash ISA's will never be revised lower by 30%

dunstonh

But they will not be 30% higher either

Debt_Free_Chick

MY cash ISA's will never be revised lower by 30%

And it won't generate the same pension as a final salary scheme, for the same contribution i.e. what you contribute ;-)

deemy2004

30% yesterday, 30% today, 30% tommorrow. its not goign to leave much of a pension in 20-30 years time