PENSION INFORMATION PLEASE HELP
Thread Starter
Joined: Nov 2005
Posts: 75
Likes: 0
From: UK
PENSION INFORMATION PLEASE HELP
HI. I'm not a pilot, but a contoller (please don't leave just yet!!)
I need some help in comparing the Pension Schemes of NATS and the Airlines.
I'm not after much info, just the following, if anyone can help, please.
Final Salary Yes or No?
Employee Contributions %
Employer Contributions %
That's it basically. Just want to compare them to ours in NATS (Final Salary, Me 6%, Boss 12.2%)
You can post replies here or just drop me a line on my PM.
Cheers, JBG
I need some help in comparing the Pension Schemes of NATS and the Airlines.
I'm not after much info, just the following, if anyone can help, please.
Final Salary Yes or No?
Employee Contributions %
Employer Contributions %
That's it basically. Just want to compare them to ours in NATS (Final Salary, Me 6%, Boss 12.2%)
You can post replies here or just drop me a line on my PM.
Cheers, JBG
Joined: Jan 2004
Posts: 127
Likes: 0
From: UK
easyJet
Final Salary NO
Employer Cont 7%
Me- Up to Me. Easyjet put 7% in the pot even if you don't.
Looking forward to hearing about others!
Interesting article;
http://www.timesonline.co.uk/article...0-2134004.html
Final Salary NO
Employer Cont 7%
Me- Up to Me. Easyjet put 7% in the pot even if you don't.
Looking forward to hearing about others!
Interesting article;
http://www.timesonline.co.uk/article...0-2134004.html
Joined: Dec 2005
Posts: 563
Likes: 0
From: USA
HI
From the states here:
Prior to 9/11 as a 737 captain for a major airline I would have gotten 60% of the best 3 years averaged for my pension at age 60. Pay raises on the books at the time would have given me 60% of 220K a year for a pension of 132K.
Since the bankruptcy if I retire at age 60 I might be getting 28 k a year...if I wait till 65 I might get 42k a year.
As I was 45 years of age in 2001, I could even expect more should I go to a bigger plane (likely) and kept pace with inflation (also likely).
Funny how the CEo has gotten a 400% pay raise while the pilots have taken a 50 percent pay cut and lost their pensions.
Americans have had a sense of fair play...not anymore.
j
From the states here:
Prior to 9/11 as a 737 captain for a major airline I would have gotten 60% of the best 3 years averaged for my pension at age 60. Pay raises on the books at the time would have given me 60% of 220K a year for a pension of 132K.
Since the bankruptcy if I retire at age 60 I might be getting 28 k a year...if I wait till 65 I might get 42k a year.
As I was 45 years of age in 2001, I could even expect more should I go to a bigger plane (likely) and kept pace with inflation (also likely).
Funny how the CEo has gotten a 400% pay raise while the pilots have taken a 50 percent pay cut and lost their pensions.
Americans have had a sense of fair play...not anymore.
j
Joined: Aug 2002
Posts: 440
Likes: 0
From: England.
What applies today won't be relevant tomorrow.
Emloyers are trying to rid themselvs of their responsibilities, obligations and promises. They're trying to kill off pension schemes. Promises are broken overnight. Pensions become worthless without any warning.
The UK "government" is not only neglecting to address this issue, it is actively promoting closures by virtue of stupid legislation and undisguised thievery from pension schemes.
Which schemes survive is down to the spirit and backbone of employees and their Unions.
Of course, if you're in the Public Sector, none of the above applies to you. Job for life, pension paid for by the repeatedly mugged taxpayer.
Said taxpayer only has him/herself to blame. Apathy rules.
Emloyers are trying to rid themselvs of their responsibilities, obligations and promises. They're trying to kill off pension schemes. Promises are broken overnight. Pensions become worthless without any warning.
The UK "government" is not only neglecting to address this issue, it is actively promoting closures by virtue of stupid legislation and undisguised thievery from pension schemes.
Which schemes survive is down to the spirit and backbone of employees and their Unions.
Of course, if you're in the Public Sector, none of the above applies to you. Job for life, pension paid for by the repeatedly mugged taxpayer.
Said taxpayer only has him/herself to blame. Apathy rules.
Thread Starter
Joined: Nov 2005
Posts: 75
Likes: 0
From: UK
jondc9.......I agree, you work your whole life on the promise of a decent pension to enjoy retirement, then, without any recourse, you are left with little or nothing. As you say, it seems to only effect those as the 'coalface' and never the 'teflon' coated execs who are rewarded for the costs savings of cutting our pensions.
abcus1......In the UK, our govn is consistently telling us there is a pension crisis and we should be saving more and all be members of pension schemes. At the same time, they remove all the tax breaks for pensions, raid the funds through surpluss taxation. All whilst the companies tell us we need to be realistic and not expect to be able to retire on so much. There is no such thing as a save pension, unless you are an executive (golden handshakes and parachutes, even when the rest of the business is bankrupt) or an MP; wouldn't it be nice if we could all decide our own salaries, pensions and when there is a shortfall, to have it made up by the tax payer. I'm glad to be living in a system where the people telling me to be more realisitic are the ones taking more and more at my expense!!
I would still be grateful if someone could give me details of the basic pension structure of a few more UK airlines, please.
Cheers, JBG
abcus1......In the UK, our govn is consistently telling us there is a pension crisis and we should be saving more and all be members of pension schemes. At the same time, they remove all the tax breaks for pensions, raid the funds through surpluss taxation. All whilst the companies tell us we need to be realistic and not expect to be able to retire on so much. There is no such thing as a save pension, unless you are an executive (golden handshakes and parachutes, even when the rest of the business is bankrupt) or an MP; wouldn't it be nice if we could all decide our own salaries, pensions and when there is a shortfall, to have it made up by the tax payer. I'm glad to be living in a system where the people telling me to be more realisitic are the ones taking more and more at my expense!!
I would still be grateful if someone could give me details of the basic pension structure of a few more UK airlines, please.
Cheers, JBG
