Sentences with phrase «on final salary schemes»

Not exact matches

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.

The party's new policy expresses great concern that the current methods used to evaluate defined benefit (ie final salary and career average) pensions have been unable to cope with these unprecedented market conditions, and this, coupled with over-regulation on the part of the Pensions Regulator, had produced wildly volatile deficits which no - one could predict — wholly unsatisfactory for schemes that have to plan over half a century.

This came hot on the heels of a warning from the National Association of Pension Funds that we are likely to see final salary schemes being closed even to existing members.

Lord Hutton also recommended an end to generous final salary pension schemes - to be replaced with payments based on average lifetime earnings.

PoliticsHome has the full text of Harriet Harman's statement on the issue, which also includes the proposal to «increase the contribution required from MPs by around # 60 per month for the current year and to extend the scheme's pension limit of two thirds of final salary to all scheme members for future service».

Pensioners in final salary pension schemes could find their benefits cut under new plans put forward by the government on Monday.

The move is expected to lead a wider attack on lucrative final - salary pension schemes - which are now almost obsolete in the private sector - if David Cameron wins the election.

Spence & Partners specialises in advising on and managing defined contribution and final salary pension schemes.

Graduates starting work now on average earnings will never have the opportunity of a final salary pension scheme (unless they work in the public sector), will have to save for many years for their first property deposit whilst at the same time paying an additional tax of 9 % of everything they earn in excess of # 21,000 in a 30 - year project to repay their student financing.

PUBLIC SECTOR PENSION REFORMS Traditionally, public sector pensions have been final salary Defined Benefit (DB) schemes that pay a proportion of the salary you were on before you retired.

Spence & Partners specialises in advising on and managing defined contribution and final salary pension schemes.

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.

Bradbury v BBC (ongoing)-- acting for the BBC before the Pensions Ombudsman, High Court and Court of Appeal in respect of a claim concerning a cap on pensionable salary in a final salary pension scheme

As well as advising on traditional final salary schemes, Catherine has experience of defined contribution schemes and dealing with the ever increasing governance requirements, career average revalued earnings (CARE) schemes, and cash balance schemes and how they have been impacted by legislative change to clarify the meaning of «money purchase».

Spence & Partners specialises in advising on and managing defined contribution and final salary pension schemes.