Property News · January 10, 2015

Monarch pilots’ pensions slashed in move to PPF


A deal to offload the airline’s pension scheme means that the pilots’ retirement plans are wreckedJames Connor was just two years away from his planned retirement when he received the bombshell news that he would be losing more than 60% of his expected pension at a stroke.Connor had spent years carefully planning for a comfortable retirement, and had been on course to receive £69,000 a year. But a few weeks ago he learned he will now get £26,500 a year. What’s more, the tax-free lump sum he had earmarked to pay off his £325,000 mortgage will also be just a fraction of what he had been anticipating. Continue reading…

Source : theguardian.com
Read more…Monarch pilots’ pensions slashed in move to PPF

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