Sentences with phrase «salary pension scheme»

An end to final salary pension schemes in the public sector?

Lord Hutton did however insist that any change should protect the lowest - paid workers and suggested replacing final salary pension schemes with schemes based on average lifetime earnings.

No matter what you think of the continued existence (barely) of «gold plated» final salary pension schemes in the public sector, having the rug pulled from under a key plank of your career choice's remuneration scheme is just cause for complaint.

He's seeking a third way, of sorts: looking beyond the classic dichotomy of the gold standard final - salary pension schemes offered by some of the bigger employers, and the more miserable defined contribution schemes where a percentage of the salary is simply put into the pot.

Coupled with recent falls in the stock market, this has decimated private provision in Britain, with final salary pension schemes almost disappearing.

Mr Cameron also said he was «very attracted» to the taskforce's recommendation that MPs» final salary pension scheme close to new entrants.

Few will be surprised by the huge majorities who back the permanent levy on bank profits or the ending of the final salary pension scheme for MPs.

We have some other income from bits and pieces of final salary pension schemes, and will have state pensions eventually, but right now we need to start taking an income from a lump sum invested in S&S.

The salary is # 29,498 to # 32,063 per annum, along with membership of a final salary pension scheme and access to subsidised transport.

They are also angry at plans by the company to close the main final salary pension scheme to future accrual, reducing the total pay package of each affected employee by typically around 20 per cent.

Unions say that changes to the workers» final salary pension scheme, which have been proposed by the Nuclear Decommissioning Authority (NDA), could see pensions slashed by thousands of pounds.

The move was also blamed for the collapse of some final salary pension schemes, although ministers say the stock market crash, end of the dotcom boom and poor pension saving are to blame.

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.

This generation, in his view, took too much during the good times, reaping the benefits of final salary pension schemes and free university education while squandering what wealth they had and failing to save, saddling younger generations with the public debt.

Up to 125,000 people are thought to have lost significant amounts of their savings between April 1997 and May 2004, after their employers wound up their final salary pension schemes - usually as a result of companies going bust.

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

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

• He said that he would take action to stop companies cheating employees by using bribes to persuade them to opt out of final salary pension schemes.

No doubt the fist benefit to go will be the final salary pension scheme, after all its only politicans who should have their pension system bailed out by the tax payer, good lord the peasants getting their pension system bailed out ny the tax payer, what ever next.

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.

Members of the Communication Workers Union will strike for five days this week, including Christmas Eve, in protest at job losses, the closure of a final salary pension scheme and the franchising of Crown Post Offices.

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

The switch from a final salary pension scheme to a Career Average scheme is the most fundamental change.

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.

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.

«Whilst the PPF is an important and valuable support, UK final - salary pension schemes have an enormous deficit blackhole, which raises the inevitable question, «how many more big hits can the PPF take?

«For over a year now we have been in extensive talks with employees in the UK with regard to the future of the final salary pension scheme.

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

The government and its agencies must learn lessons from the Carillion collapse — and quickly — to address the inherent weaknesses of many UK final salary pension schemes, affirms deVere Group.

The deVere CEO concludes: «Lessons from the Carillion collapse must be learned — and quickly — to address the inherent weaknesses of many UK final salary pension schemes.»

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