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State pension age should be 70, say bosses
http://www.x404.co.uk/forum/viewtopic.php?f=19&t=3529		 Page 1 of 1
Author:  Amnesia10 [ Tue Oct 20, 2009 6:33 pm ]
Post subject:  State pension age should be 70, say bosses
http://www.independent.co.uk/money/pens ... 05408.html

More bad news for the youngsters. Add that to the higher taxes because of PFI and PPP used by the Tories and New Labour.
Author:  bobbdobbs [ Tue Oct 20, 2009 7:37 pm ]
Post subject:  Re: State pension age should be 70, say bosses
Dont worry the bosses and MP's will be ok :x
Author:  Amnesia10 [ Tue Oct 20, 2009 10:59 pm ]
Post subject:  Re: State pension age should be 70, say bosses
bobbdobbs wrote:
Dont worry the bosses and MP's will be ok :x

I personally think that companies should be banned from having separate directors pension funds. That way if the staff pension fund is short then the directors suffer as well.
Author:  AlunD [ Wed Oct 21, 2009 5:28 pm ]
Post subject:  Re: State pension age should be 70, say bosses
Amnesia10 wrote:
I personally think that companies should be banned from having separate directors pension funds. That way if the staff pension fund is short then the directors suffer as well.


LOL I like that idea. :D
Author:  Amnesia10 [ Wed Oct 21, 2009 6:12 pm ]
Post subject:  Re: State pension age should be 70, say bosses
AlunD wrote:
Amnesia10 wrote:
I personally think that companies should be banned from having separate directors pension funds. That way if the staff pension fund is short then the directors suffer as well.


LOL I like that idea. :D

Yes it will avoid the situation like Phoenix which went bust and the directors pension fund was full and the Rover staff pension fund was empty. An additional could be that directors cannot claim against the pension fund for one year after leaving. So if the company goes bust they get no money for a year and if the pension fund is under funded they suffer more than most. They had control over placing funds into the pension fund. That would be fairer.
Author:  davrosG5 [ Wed Oct 21, 2009 6:14 pm ]
Post subject:  Re: State pension age should be 70, say bosses
The problem is of course that directors and executives tend to have a contribution paid by the company into an external pension fund while the employees have no choice as to where their pension is invested.

I certainly like the idea of the directors/executives being stuck with the same pension provisions they inflict ont he rest of the staff though.
Author:  Amnesia10 [ Wed Oct 21, 2009 6:27 pm ]
Post subject:  Re: State pension age should be 70, say bosses
davrosG5 wrote:
The problem is of course that directors and executives tend to have a contribution paid by the company into an external pension fund while the employees have no choice as to where their pension is invested.

I certainly like the idea of the directors/executives being stuck with the same pension provisions they inflict ont he rest of the staff though.

It will have the same impact where they stop final salary schemes for staff but have a final salary scheme for directors. That could not happen under my scheme.
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