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Old 9th Mar 2006, 11:46
  #15 (permalink)  
fokker
 
Join Date: Apr 1999
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I would agree that only in united action is there any chance of success. The trouble is that the company only has to buy off a few near the top to divide you utterly, as it did in 2001.

Furthermore, what are you fighting? It's a simple if unfortunate (for those whose future was planned to rely on it) fact that if, through poor performance or misguided investment there is no money in the fund, that's that. Unless, of course, you can show that this has arisen as a result of wilful maladministration. (Not suggesting it is).

A couple of years ago I contemplated returning, principally for the pension rights. I was advised not to make that a consideration as it probably wouldn't be there by the time I reach 60. Sound advice.

To those of you now being asked to pay the pensions of the near-retirees, I say this: ask yourself what they would do for you if the situation were reversed. That's right - they would (did) pull up the ladder. Save the money and buy another house.


Good luck.
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