Sentences with phrase «generous final salary schemes»
But ministers fear the generous final salary schemes paid out to public sector workers would deter all but the biggest firms from doing so.
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Lower earners are expected to actually receive more generous payments due to the reform, after the government moved away from a final salary scheme to one based on career averages.
A key change for the MPs» pension will see it linked to average salary as opposed to the current, more generous, final salary scheme.
A pledge to end MPs» generous final - salary pension scheme has not come to fruition just yet, as expenses watchdog Ipsa is taking its time.
Lord Hutton also recommended an end to generous final salary pension schemes - to be replaced with payments based on average lifetime earnings.
The union objects to the raising of the retirement age from 55 to 60, on a generous final - salary pension scheme, with good job security.