In these days of uncertainty - many companies going belly-up - everyone who talks of striking to keep their final salary pension should bear in mind that money purchase schemes are far safer than final salary.
If, say BA, went bust, their FS scheme is in massive deficit and will rely on the company to bail it out in the future - eg: no company - no pension bail out.
However if you have a MP scheme, all that pot belongs to only you and is safe if the company goes belly-up.
The main argument for FS schemes is that the company puts in money as well - there is nothing to stop any company paying into a MP scheme but due to the obsession with FS schemes the unions and have not pushed this option.
I beleive that the sooner we get away from FS schemes and everyone has a fully portable MP scheme that companies can also contribute to, everyone will benefit - the individual by having a guaranteed pension entitlement and the company by having fixed pension contributions that are easy to forcast into the future.
