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Old 24th Jun 2005, 07:36
  #47 (permalink)  
vecvechookattack
 
Join Date: Mar 2005
Location: Falmouth
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I really dont understand what your beef is. Are you telling me that you are unhappy with the AFPS? Whats wrong with it? Many financial experts will tell you that the AFPS is one of the best around )(mainly as it is non-contributry).

If you don't like the AFPS then take a look at the pension schemes of other companies.

I'll quote from a recent interview....

"Many people have been left with a pensions shortfall because of recent problems in the pensions market, according to the Association of Consulting Actuaries (ACA).

ACA's recent survey suggests that nearly ninety per cent of all final salary pension schemes are in deficit, meaning that the total shortfall of these schemes has now risen to more than £130 billion.

Speaking to the BBC, ACA's chairman, Adrian Waddingham, said: "Lots of things have gone wrong for pensions schemes recently, including the stock market collapse and low interest rates.

"So British pension funds, many of them, most of them, have shortfalls."

Many other commentators have blamed the shortfalls on lower investment returns and longer life expectancy.

The survey found that it seems to be employers who have to bear most of the extra cost. Employees are now paying only 1.2 per cent more, while employers' contributions have increased by five per cent on average." So, there you have it. You either opt for a pension with BA, Squeasy Jet or any other airline. You can opt to work bor British waste of space or wastelands....OR you can sit with the AFPS, safe in the knowledge that providing there is a defence Budget then your Pension is safe and sound.
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