{"id":22775,"date":"2016-08-13T12:57:18","date_gmt":"2016-08-13T05:57:18","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-scandalous-changes-to-company-pension-schemes\/"},"modified":"2016-08-13T13:03:29","modified_gmt":"2016-08-13T06:03:29","slug":"the-scandalous-changes-to-company-pension-schemes","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-scandalous-changes-to-company-pension-schemes\/","title":{"rendered":"The scandalous changes to company pension schemes"},"content":{"rendered":"


\nEvery time an employer closes a final salary scheme and moves workers to a \u2018defined contribution\u2019 one, it shifts all the risk onto themA man in his 40s receives a pension projection that tells him his retirement income is going to collapse from the \u00a338,000 he was expecting to \u00a318,000. His company is having to find a sum equal to 45% of his salary to keep the pension scheme going, a crucifying amount for any employer, and the costs will keep on spiralling. It says it has no choice but to slash the scheme to ribbons.This is the sort of dilemma facing the workers, and bosses, of Royal Mail and the Post Office. Strike action is looming \u2013 and quite rightly too, because the cuts are equivalent to someone losing \u00a3200,000 or even \u00a3300,000 over the course of their retirement. Continue reading…
\n
\nSource : theguardian.com
\nRead more…The scandalous changes to company pension schemes<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Every time an employer closes a final salary scheme and moves workers to a \u2018defined...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-22775","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5Vl","jetpack-related-posts":[{"id":26752,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/smith-nephew-angers-workers-with-plans-to-close-final-salary-pension-scheme\/","url_meta":{"origin":22775,"position":0},"title":"Smith & Nephew angers workers with plans to close final salary pension scheme","date":"September 21, 2016","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...Smith & Nephew angers workers with plans to close final salary pension scheme","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":68550,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/auto-enrolment-means-you-must-now-set-up-a-pension-for-your-nanny-or-carer\/","url_meta":{"origin":22775,"position":1},"title":"Auto-enrolment means you must now set up a pension for your nanny or carer","date":"October 9, 2017","format":false,"excerpt":"\r The grace period is over \u2013 if someone works for you, you are a micro-employer, and if you pay them more than a certain amount, you must set up a schemeIt was five years ago this month that the government kicked off a huge shakeup of retirement saving to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26570,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/frank-field-condemns-plan-to-dump-bernard-matthews-pension-scheme\/","url_meta":{"origin":22775,"position":2},"title":"Frank Field condemns plan to 'dump' Bernard Matthews pension scheme","date":"September 20, 2016","format":false,"excerpt":"\r Move is part of proposed purchase of food business that would see retirement scheme passed on to Pension Protection FundThe chair of parliament\u2019s work and pensions committee has called on regulators to intervene against the \u201cdumping\u201d of a retirement scheme for current and former workers at Bernard Matthews, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6534,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/want-a-20000-pension-youll-have-to-put-aside-a-quarter-of-your-salary\/","url_meta":{"origin":22775,"position":3},"title":"Want a \u00a320,000 pension? You'll have to put aside a quarter of your salary","date":"May 26, 2012","format":false,"excerpt":"\r Scottish Widows report highlights a yawning gap between what people expect to receive on retirement and the grim realityRetirement savings have hit a record low, with the number of people putting aside money for a pension falling by 5% last year alone, according to a report this week. Meanwhile,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34958,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/self-employed-face-retirement-poverty-without-pension-reform\/","url_meta":{"origin":22775,"position":4},"title":"Self-employed face retirement poverty without pension reform","date":"November 19, 2016","format":false,"excerpt":"\r Experts say the government needs to act to let gig economy workers benefit from flagship auto-enrolment pension schemesWorkers in the burgeoning gig economy face poverty in retirement unless the government acts to change its flagship pension policy and makes it easier for them to save, experts have warned.The pensions\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3131,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/do-you-employ-a-nanny-then-its-time-to-pay-into-their-pension\/","url_meta":{"origin":22775,"position":5},"title":"Do you employ a nanny? Then it\u2019s time to pay into their pension","date":"January 30, 2016","format":false,"excerpt":"\r Auto enrolment is designed to make sure more people save towards their retirement. Now it\u2019s the turn of small employers to start making pension payments for their staffThousands of families have started receiving official letters telling them they need to set up a pension plan for their nanny during\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/22775"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=22775"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/22775\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=22775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=22775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=22775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}