So come on Joe, what's the solution.
If the government cant afford to pay the subsidies to these pensions any more what should happen?
I have a solution.
My wife was on a final salary pension with her company for 21 years she paid in so did the company, now in this day and age the pension fund was not growing (ooh suprise suprise) and the company was paying in an extra £4m a year to keep it at what was needed.
Sooooo they called a halt on it and gave them some decisions to make. The only one that seemed like a win win was this:
My wife took the money out and paid it into a private pension, the company still pays the same into that private pension aswell same as they would have for the final salary one but in the first year they say we will also put in an extra 10% of your salary, then for the next 4 years we will put in an extra 5% of your salary and then the extra stops but they still pay what they where before.
Now after alot of humming and harring me and the wife went to see an IFA and get a good deal on a "rats" Retirement Annuity Trusts and it works well.
She is happy her company is happy and everyone is a winner.
seems to me this could be an answer to all the poeple who have final salary pensions.
And as for all the people on here saying ooh we had to take the day off because we have kids to look after, well they are your kids you look after them, they are your responsability no one elses, what do you do if they are ill and cannot go to school???
People are fighting for something they have signed for and are fighting to keep it, we all do this in a round about way and if stiking is the only way to get heard then so be it.
Strikes have happend for years to get better conditions in the construction industry, it worked then and I do not see how it cannot work now for others.
Oh and by the way the wife is in finance (accountant) and I am a builder and I get absolutely nothing from my company for a pension so I have if i wanted too have my own ,which I donot i have property which in this day and age is worth a darn sigt more than any pension will be.
spike