Saturday, October 04, 2014

"Landlords face strikes after predicted rise in pension contributions"

On Friday Inside Housing Magazine reported on some of my comments about how angry UNISON members will be if employers tried to close their pension schemes or raise contributions so high that schemes would have to close anyway since no one could afford to join.

The world is a very different place from where it was 3 years ago, when some employers took advantage of the recession to close schemes or increase contributions. While we are certainly not out of the economic woods yet, most Housing Associations are now enjoying record surpluses and paying their Executives inflation plus pay rises and bonuses.

Modern day Defined benefit pension schemes are affordable and sustainable. If any employer decides now that it wants its employees to end up dying in miserable retirement poverty then they could find themselves in for a fight.
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