No pension surprises

May 29, 2014

Is it the end for final salary pensions?” your headline asks (News, 22 May). The end has been on the cards for at least 10 years, and several people tried to warn colleagues that this would happen via the pages of Times Higher Education. As one of the many Cassandras, I hope that some people did try to increase their pension savings.

Thanks to employer machinations and union incompetence, younger staff and yet-to-be promoted staff are going to be worse off. This is an almost zero-sum game, so who wins? Anyone who retired 2005 to 2018, anyone who retired early on full pensions and anyone with a late promotion. These people are getting a bigger pension gifted by the losers.

Jim_sta
Via timeshighereducation.co.uk

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