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Old 7th Feb 2006, 11:03
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Grum Peace Odd
 
Join Date: Jul 2005
Location: Oxfordshire
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Interesting that their examples of loss are all centered around someone reaching 50 just after Apr 2013 (and hence having the retirement age raised to 55, in line with the military but still well below the state retirement age) yet it seems that anyone working to 55 gains significantly (15% or so) under the new proposals.
In itself, that sounds in line with the goverment trend and not dissimilar to what they have done to our pension recently (ie serve to 55 or get financially penalised). The only issue that isn't clear from the FBU's website (propoganda?) is whether there is an OTT for existing firemen as there was with us. If there is an OTT, then I see no problems as those that want to retire at 50 would stay on the existing scheme and those that want to serve to 55 will transfer to get the extra money. As it is, they have (and are keeping) a final salary linked pension - unlike the vast majority of the population. If they work to 55 (the same as we have to on our new scheme to get an immediate pension) they will take home more than a Wg Cdr's pension.
Without the OTT, I have sympathy for those adversely impacted, but many will also gain (and keep quiet about that aspect). With an OTT on the table, I have no symapthy at all.
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