Mad Cyril
The Fresh Prince of Belfairs⭐⭐
Does anyone else really worry about this?
My current pension isn't great and TBH I need to spend some time with an expert thinking about the best savings/investment/pension plans. I might have 3 economics degrees but I'm still pretty clueless.
Talk to our Mortgage sponsors as they offer financial advice as well Jon
...at the moment. Your employer could easily end that scheme and move to a defined contribution scheme.Not me. Final salary pension.
...at the moment. Your employer could easily end that scheme and move to a defined contribution scheme.
Unlikely. The Unions and management have reached a deal to plug the contributions gap - we pay more out of our wages, and the pension stays as it is. Remember, NR is a publicly owned company.
If things change then I imagine the Unions will take action - and rightly so. We've already done our bit.
I have been through this and don't be so sure r.e. Unions, there are plenty of examples of such schemes shutting and being replaced with defined contribution schemes.
However the good news if you have a final salary scheme is that any money accrued in that scheme can be deferred if it is closed and then claimed later still under the final salary rules (i.e. regular payouts plus lump sum). And that is underwritten by legislation.
However if the whole economy goes tits up who knows what could happen!
Yes, let's not go there.
Yep, should have fought harder in my divorce settlement. My ex was always the one with the hefty pension provision while I only had 15 years with the Bank. It was never an issue as it should have benefited both of us long term. So, I have the Bank one and a small one from my 7 years working part time in the school. Probably not going to stretch far when the time comes.
What, next year? :whistling: :winking:
Tend to book a fully-fledged hotel - more expensive, granted, but certainly more comfortable.