{"id":27439,"date":"2016-09-27T18:21:08","date_gmt":"2016-09-27T11:21:08","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/bmw-to-shut-final-salary-pensions-of-5000-staff-in-britain\/"},"modified":"2016-09-27T18:30:36","modified_gmt":"2016-09-27T11:30:36","slug":"bmw-to-shut-final-salary-pensions-of-5000-staff-in-britain","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bmw-to-shut-final-salary-pensions-of-5000-staff-in-britain\/","title":{"rendered":"BMW to shut final-salary pensions of 5,000 staff in Britain"},"content":{"rendered":"


\nUnite union vows to fight \u2018tooth and claw\u2019 car maker\u2019s switch to defined-contribution scheme after it posted record profits German car giant BMW has revealed plans to shut its two final-salary pension schemes for 5,000 staff in Britain \u2013 prompting the country\u2019s biggest trade union, Unite, to say it will fight the proposals \u201cby whatever means possible\u201d.The company, which made pre-tax profits of more than \u20ac9bn (\u00a37.8bn) in 2015, intends to close its two defined-benefit pension schemes to future contributions from June 2017, and shift workers over to its less generous defined-contribution pension scheme. Continue reading…
\n
\nSource : theguardian.com
\nRead more…BMW to shut final-salary pensions of 5,000 staff in Britain<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Unite union vows to fight \u2018tooth and claw\u2019 car maker\u2019s switch to defined-contribution scheme after...<\/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-27439","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\/p75ss1-78z","jetpack-related-posts":[{"id":5328,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/widows-and-widowers-pensions-could-be-axed-under-new-proposals\/","url_meta":{"origin":27439,"position":0},"title":"Widows and widowers' pensions could be axed under new proposals","date":"November 10, 2013","format":false,"excerpt":"\r Pension for surviving spouse and inflation linking threatened under plan to make final salary schemes affordableWidows and widowers could lose their entitlement to payouts from their spouse's workplace pension under proposals outlined by the government to make final salary schemes more affordable for employers.Firms have been closing final salary\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11488,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-pensions-system-has-failed-what-is-the-answer\/","url_meta":{"origin":27439,"position":1},"title":"The pensions system has failed \u2013 what is the answer?","date":"April 27, 2013","format":false,"excerpt":"\r Poor investment returns and dreadful annuity rates mean the outlook for defined contribution pension schemes is appallingTwo figures stunned me this week. The first was on Tuesday morning from the Office of National Statistics, which said that to buy an inflation-linked retirement income of \u00a325,000 a year \u2013 less\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71555,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nationwide-shows-pensions-future-neednt-be-a-grim-one\/","url_meta":{"origin":27439,"position":2},"title":"Nationwide shows pensions\u2019 future needn\u2019t be a grim one |","date":"November 11, 2017","format":false,"excerpt":"\r The building society launched a campaign that has boosted contributions and made staff more engaged with its pension schemeBritish pensions, as we reported recently, are among the grimmest in the developed world. The golden generation that retired with guaranteed final salary-style schemes is being replaced with a generation pauperised\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22775,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-scandalous-changes-to-company-pension-schemes\/","url_meta":{"origin":27439,"position":3},"title":"The scandalous changes to company pension schemes","date":"August 13, 2016","format":false,"excerpt":"\r Every 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27337,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/blow-to-bmw-workers-as-car-maker-plans-to-close-final-salary-pensions-to-new-contributions\/","url_meta":{"origin":27439,"position":4},"title":"Blow to BMW workers as car maker plans to close final salary pensions to new contributions\u00a0","date":"September 27, 2016","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...Blow to BMW workers as car maker plans to close final salary pensions to new contributions\u00a0","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32349,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/size-of-deficit-in-defined-benefit-pension-schemes-drops-sharply-in-october\/","url_meta":{"origin":27439,"position":5},"title":"Size of deficit in defined benefit pension schemes drops sharply in October","date":"October 31, 2016","format":false,"excerpt":"\r Total deficit in UK\u2019s 6,000 defined benefit funds improves by \u00a360bn to \u00a3630bn, according to accountancy firm PwCThe size of the deficit in defined benefit pension schemes dropped sharply in October, according to a report on Monday.The total deficit in the UK\u2019s 6,000 defined benefit funds improved by \u00a360bn\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\/27439"}],"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=27439"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/27439\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=27439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=27439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=27439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}