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Old 8th Nov 2006, 22:45
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roundwego
 
Join Date: May 2001
Location: UK
Posts: 312
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Welcome to the rest of the world mate. Virtually every other company with a defined benefit pension scheme has had to pump huge amounts in to support their pension scheme and employees are expected to take some of the pain as well. Consider yourself fortunate if your employer permits existing members to continue to accrue albeit reduced future benefits. Many schemes have not only closed to new members but have also terminated future accrual to existing members and replaced it with a money purchase scheme.
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