The end of final salary pensions, was this the objective all along? and just the start of an attack all final salary pensions lurking about in private industry. :sherlock:
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The end of final salary pensions, was this the objective all along? and just the start of an attack all final salary pensions lurking about in private industry. :sherlock:
Never let a good plan go to waste :xmashehe:
Could be further pain for the steel industry on the horizon. The Eu currently have a limit in the amount of cheap steel that China can dump into the market. Nobody is really sure whether that will still apply to uk after brexit, I guess it would have to be tested in court.
We may have to agree our own deal with China, with considerably less clout than the EU, but I don't nessecarily see that as too huge a stumbling block.
The biggest problem for me is the people in prominent positions in the Tory party I don't think will be to concerned at all if the steel industry is completely destroyed in this country. They believe in the free market, so if it's cheaper to buy it from China then that's what we should do.
final salary pensions were fine when the average life expectancy was say 5-10 years post retirement. That life expectancy has increased but contributions haven't. Final salary schemes are no longer affordable unless contributions by workers increase to cover the shortfallQuote:
Originally Posted by Nelsonca61