Company pension

kidmugsy

I suppose it's all part of the death throes of Final Salary schemes. They've proved both too costly on average, and too unpredictable in detail. If they really worked well in attracting and retaining staff, perhaps companies would stick with them, but they don't.

class2ldn

I've been affected by this aswell as I'm a train driver.
Apparently aslef have recommended it goes ahead without any consultation to the members.
Isn't it funny how most of the senior members that make up the backbone of aslef at the top are protected members yet the people they represent in the whole are not.
No prizes for guessing who's winning here.
They seem to believe that staff won't take the pay cut the increased Ni contributions would cause so they've decided to go for the pensions instead.
Rather then being a final salary pension it's now an average salary pension.
I certainly won't be working in this job at least until I'm 62 and it now means il get even less if I go early.
I put aside some money into brass but only around £50 a month.
Just been asked to join the company sharesave scheme so that may be a way of softening the blow if I can get a half decent return lol