Any news on what airlines are planning for pension schemes [defined contribution type]. The numbers are not adding up in the present climate and reading around the airline and press reports it can only be a matter of a short time before exiting schemes within UK airlines are wound up for existing beneficiaries and members and cash alternatives distributed. Thoughts and links would be welcome. You can be sure that actuaries are mighty busy just now !!
Koi
Monty77
8th Feb 2009, 17:37
All bets are off, given what the UK Govt has done with respect to pensions and borrowing vast amounts of money to bail out banks that defied the laws of common sense.
They have borrowed vast amounts of money to stop banks going bankrupt. UK tax payers will pay for this over the next few decades (your children). If you have a company pension of any sort, I reckon you can kiss off any state pension, because you have provided for yourself.
Come retirement day, they will means test you. If you have a pension lined up, you will get nothing.
If you are a single 27-year old mother of six, who unbelievably received fertility treatment and produced octuplets, making her brood fourteen strong, fear not. Tax-payers will fund you, and your 14 benefits for life.
That was in the US, but there are many in UK with similar characteristics.
I left the UK by accident, and I'm glad I did, looking back on it all.
NigelOnDraft
8th Feb 2009, 22:08
What types of Pension are you talking about :uhoh:
Final Salary Pension Schemes or for pension schemes [defined contribution type]
NoD
Reading PPRuNe is in essence as useful as reading the graffiti in the average pub bog - sometimes perhaps a grain of truth - but then again probably not.
Not a source of information to base an opinion, more a starting point.