Exiled: That said I think that there would be hell to pay were there not to be a salary rise in the event of its removal.
Yup.
In essence, the increased accrual rate of a Career Average scheme over a Final Salary scheme can only count in your favour if you plan on not getting promoted and are getting out. Hence my earlier point. The only doubt that I see, and taking into account the 2004 legislation, is whether or not enrolment into the new scheme is going to be at the end of a rifle barrel for everyone, or a fountain pen barrel for only those when signing on or accepting a new engagement/promotion.
EQPD magazine has a useful piece on pension reform btw (thanks PJ).
EQPD
Edit: Having spoken about this in jest previously, I have just read this with a sense of foreboding. A colleague I have just been discussing AFPS with (when it comes to crazy work place atmospheres, this place is really up there) has just handed me a copy of this:
Study wants public sector to enter Nest - Pensions Management - the magazine for pension & investment industry professionals
To go from a gold plated pension to this would be a bit of kick in the slats - especially for those in their early 50s who would have to pick up the high early NEST running costs to cover initial overheads.
NEW REPORT: Self-sufficiency is the key
http://www.pensionsadvisoryservice.o...gs-trust-(nest)