Pension solution
Ok
It is obvious that the scheme is in trouble, so....
Close existing scheme to new employees
The new proposed DC scheme is more than generous, change the contribution rates to 7% employee, 14% employer. The 4% saved can help the company fund/sustain our existing pension scheme.
Keep existing pension scheme terms as they are.
Review in a couple of years when the stock market has recovered.(Bear in mind pay rises are unlikely to be above RPI)
Your thoughts please.
Last edited by GM WAN TO BE; 19th October 2008 at 22:33.