Are you worried about Tata's Steel option on pension change?
Watch this postIs the result of the new Brexit style politics, whereby the UK politicians take control with the wealthy and big corporations to force hardship onto its people so to make them subservient, like with the Magna Carta?
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Our politicians and the heads of these corporations have gilt-edged pensions which are usually inflation-proof and are 'earned' from usually a much shorter term of employment. Sometimes, they also slip into paid board memberships of companies they have dealt with during their work.
It is morally indefensible for them to renegotiate existing pension terms for workers, especially those who work in hazardous industries, merely for their convenience in take-over negotiations and cost saving exercises.
I recall that when Allied Steel & Wire went down in Cardiff about fifteen years ago, the employees, some of whom had contributed for up to forty years, were facing having to retire on state pension. I don't know how they fared in the end but in my naivety I thought pensions were sacrosanct. Just shows how little I know on the subject.
Personally I don't think that the government will take this one on as it would set a precedent for all the other companies who are struggling with their pension scheme deficits. The country just couldn't afford it. However, I guess we'll just have to wait and see.