TNT cancels pension for UK pilots
Thread Starter
Join Date: Jan 2006
Location: LGG
Posts: 17
Likes: 0
Received 0 Likes
on
0 Posts
TNT cancels pension for UK pilots
We have just been told that as from the end of June that the final salery pension scheme that most of the UK based pilots are in is to be closed.
Time to jump me thinks
Time to jump me thinks
This pension snatching has to stop. It's a virus seemingly started in the US and now spreading. Many of us have stayed throughout the bad times at our airlines in hopes of making it to retirement.
Of course, we realize tending to our futures is mainly up to ourselves but in many instances, not our own making, we are being robbed of what was promised us. Here in the US, airlines have used the bankruptcy card to cancel pensions. You will notice the CEO's and higher level executives manage to slink out with obscene pay-outs, iron clad pensions not just from one company, but from several. Also taking with them life-time medical insurance and positive passes in First Class.
The CEO's seem to have absolutely no shame looting the company coffers and reducing the employees to near poverty. Perhaps this is legal, but how is it moral? The impact on society has not yet been measured to my knowlege but I predict a major drain on tax revenue and medical services.
Shame, shame, shame!
Dea
Of course, we realize tending to our futures is mainly up to ourselves but in many instances, not our own making, we are being robbed of what was promised us. Here in the US, airlines have used the bankruptcy card to cancel pensions. You will notice the CEO's and higher level executives manage to slink out with obscene pay-outs, iron clad pensions not just from one company, but from several. Also taking with them life-time medical insurance and positive passes in First Class.
The CEO's seem to have absolutely no shame looting the company coffers and reducing the employees to near poverty. Perhaps this is legal, but how is it moral? The impact on society has not yet been measured to my knowlege but I predict a major drain on tax revenue and medical services.
Shame, shame, shame!
Dea
Join Date: Dec 2005
Location: USA
Posts: 563
Likes: 0
Received 0 Likes
on
0 Posts
having been one of those pilots to see my pension evaporate, I cannot begin to tell you all the grief this has caused.
Of course I must be the stupid one. I actually believed that people would keep their word, especially since it was placed on paper.
And, my fellow pilots, it can happen just about anywhere, so be warned!
j
Of course I must be the stupid one. I actually believed that people would keep their word, especially since it was placed on paper.
And, my fellow pilots, it can happen just about anywhere, so be warned!
j
Join Date: May 2002
Location: LGW - Hub of the Universe!
Posts: 978
Likes: 0
Received 0 Likes
on
0 Posts
Good Luck to you guys - you have my full sympathy and support!
Now will people wake up and take notice of what is happening in the work-place and why the entire BA workforce is rallying behind its pilots to stop the erosion of pensions!
Now will people wake up and take notice of what is happening in the work-place and why the entire BA workforce is rallying behind its pilots to stop the erosion of pensions!
Join Date: Apr 2000
Location: NY
Posts: 198
Likes: 0
Received 0 Likes
on
0 Posts
Blame Brown and his communist tendencies
Don't blame the company, blame Comrade Brown and his natural communist tendencies. He wants most of your money when you are earning, he wants more of your money when you retire and he wants the rest when you die. You see he knows much better ways of spending your money and feels so much better 'stealing' your money and giving it to some poor family in Africa. Comrade Brown effectively "Closed Down" every final salary pension fund in the UK by his raiding of the coffers to the tune of five billion!
Don't say you were not warned - all those who voted for this sorry excuse for a government, not once but three times, should be held accountable for their actions!
Don't say you were not warned - all those who voted for this sorry excuse for a government, not once but three times, should be held accountable for their actions!
Join Date: Aug 2002
Location: England.
Posts: 440
Likes: 0
Received 0 Likes
on
0 Posts
MercenaryAli has pinpointed the cause of the problem.....G Brown and the Government he represents.
The G Brown tax raid of £5 billion and that's per annum, not total, is a major factor. Interesting, isn't it, how the total deficit in UK private pension schemes exactly equals the ammount grabbed by G Brown.
But it's not only Brown who should be guillotined. There has been complete and utter failure by this present Government to do anything to prevent the actions of greedy, lazy and incompetent employers. Those employers won't change their ways until legislation forces them to do so. This incompetent Government has shuffled along through shambolic paper exercises (eg The Pickering Report.....what a joke) and done nothing useful or productive. Nothing new there then!
The revolution can only happen if the downtrodden masses stand up for themselves. I'm doing my bit...........are you?
The G Brown tax raid of £5 billion and that's per annum, not total, is a major factor. Interesting, isn't it, how the total deficit in UK private pension schemes exactly equals the ammount grabbed by G Brown.
But it's not only Brown who should be guillotined. There has been complete and utter failure by this present Government to do anything to prevent the actions of greedy, lazy and incompetent employers. Those employers won't change their ways until legislation forces them to do so. This incompetent Government has shuffled along through shambolic paper exercises (eg The Pickering Report.....what a joke) and done nothing useful or productive. Nothing new there then!
The revolution can only happen if the downtrodden masses stand up for themselves. I'm doing my bit...........are you?
Join Date: Oct 2003
Location: n/a
Posts: 1,425
Likes: 0
Received 0 Likes
on
0 Posts
I'm not sure how a Belgian company's decision to shaft its international employees can be blamed on Gordon Brown. It appears that this is simply another turn of the screw by an apparently xenophobic organisation, or at least thats how it will be received by the UK crews anyhow...
Last edited by Daysleeper; 7th May 2006 at 08:48.
