War on DB pensions....

k6chris

steampowered wrote: »

You didn't even bother to read the article, did you?

Even by my standards, not reading an article and then starting a thread on it, is unlikely!

There are many other pieces of information that lead me to conclude there is a war on DB pensions. This seemingly reasonable view "Firms in financial trouble could be allowed to reduce the generosity of pensions, the government has suggested"

http://www.bbc.co.uk/news/business-39026975

has recently been seen in action re the court ruling on a major multinational DB pension scheme

http://www.pensionsage.com/pa/Court-of-Appeal-rules-against-members-in-IBM-case-overturns-High-Court-ruling.php

with the intersting quote - "Employers will be breathing a sigh of relief after this ruling. They were worried that anything they said to employees could be taken down and used in evidence against them in court. ‎They will be more relaxed now that the Court of Appeal has decided that ‎workers can't treat every employee communication or statement made by a manager as an everlasting contractual promise entitling them to enhanced employment and pension rights. It may now be difficult for workers to claim rights in these circumstances."

My guess is things we may see is a changes to the '20 x' valuation of DB pensions, which to be clear will do nothing than a potential one off tax take as LTA are exceeded.

Steampowered, we obviously see different things in what we read, but I still standby my view that is not an accidental use of words.

hyubh

k6chris wrote: »

There are many other pieces of information that lead me to conclude there is a war on DB pensions.

For someone who claims to find the word 'jackpot' shocking, you have a curiously keen sense of hyperbole in your own statements.

This seemingly reasonable view "Firms in financial trouble could be allowed to reduce the generosity of pensions, the government has suggested"

At the risk of stating the obvious, that headline is describing what someone in government has said in a briefing, not propounding a 'view' which seeks to be considered 'reasonable'. As for the suggestion itself, believing final salary salary pensions of the past to be, in hindsight, a mistake is not mutually exclusive to believing contractual rights formed from them should be upheld and not 'watered down' by government diktat.

steampowered

k6chris wrote: »

There are many other pieces of information that lead me to conclude there is a war on DB pensions.

So the things you are complaining about are not even in the article you linked?

Steampowered, we obviously see different things in what we read, but I still standby my view that is not an accidental use of words.

I can't see anything in that article which supports the point you are making.

I'm not convinced you've read anything more than the tag-line (which apparently you have misunderstood).