{"id":94387,"date":"2018-07-21T13:00:30","date_gmt":"2018-07-21T06:00:30","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-should-follow-royal-mail-in-delivering-fairer-pensions-for-all\/"},"modified":"2018-07-21T14:03:55","modified_gmt":"2018-07-21T07:03:55","slug":"we-should-follow-royal-mail-in-delivering-fairer-pensions-for-all","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-should-follow-royal-mail-in-delivering-fairer-pensions-for-all\/","title":{"rendered":"We should follow Royal Mail in delivering fairer pensions for all"},"content":{"rendered":"


\nHere\u2019s a solution that splits the difference between cushy final salary and shares-based pensionsIs this how we can bridge the absurd gulf between the (mostly) public sector workers who have great final salary-based pensions and the lousy stock market-based pensions for private sector workers? Royal Mail is ditching its final salary scheme, but rather than do what virtually every other privatised company has done and leave its workers at the mercy of under-funded stock market-based pensions, it has found a halfway house between the two. If other companies follow, it\u00a0might just deliver us from pensions penury.Royal Mail\u2019s problem was that its annual pensions bill of \u00a3400m for the final salary scheme threatened to escalate to \u00a31.26bn unless it made changes. Understandably, the Communications Workers Union saw it rather differently, accusing the newly privatised firm of cost cutting and asset stripping to satisfy shareholders. What has emerged out of an at times bitter dispute \u2013 a strike ballot of 110,000 won 89% support \u2013 is a deal that Frank Field MP said this week is a breakthrough that could transform our retirement prospects. Continue reading…
\n
\nSource : theguardian.com
\nRead more…We should follow Royal Mail in delivering fairer pensions for all<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Here\u2019s a solution that splits the difference between cushy final salary and shares-based pensionsIs this...<\/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-94387","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-oyn","jetpack-related-posts":[{"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":94387,"position":0},"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":27439,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bmw-to-shut-final-salary-pensions-of-5000-staff-in-britain\/","url_meta":{"origin":94387,"position":1},"title":"BMW to shut final-salary pensions of 5,000 staff in Britain","date":"September 27, 2016","format":false,"excerpt":"\r Unite 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22548,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/big-cuts-for-royal-mail-and-post-office-workers-pensions\/","url_meta":{"origin":94387,"position":2},"title":"Big cuts for Royal Mail and Post Office workers' pensions","date":"August 11, 2016","format":false,"excerpt":"\r Backlash expected over part-closure of defined-benefit schemes, which companies say are unaffordableNearly 100,000 workers at the Royal Mail and the Post Office are likely to be the earliest victims of the post-Brexit turmoil in markets as the companies plan big cuts to their \u201csimply unaffordable\u201d pension schemes.One manager in\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":94387,"position":3},"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":22899,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pensions-overhaul-could-hit-public-sector-workers-hardest\/","url_meta":{"origin":94387,"position":4},"title":"Pensions overhaul could hit public sector workers hardest","date":"January 15, 2013","format":false,"excerpt":"\r Seven million workers would have to increase their national insurance contributions by 1.4% of their incomeA radical overhaul of the state pension designed to help low earners and women has been unveiled \u2013 but the cost would be higher payments by nearly 7 million employees, and by schools, hospitals\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61432,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-government-has-got-it-wrong-on-pensions-letters\/","url_meta":{"origin":94387,"position":5},"title":"The government has got it wrong on pensions | Letters","date":"July 22, 2017","format":false,"excerpt":"\r Readers discuss Philip Hammond\u2019s claim that public sector pensions are generous and the decision to bring forward the raising of the state pension ageThe chancellor of the exchequer recently pointed out that public sector pay was superior to private sector pay because of the occupational pension accruing to long-time\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\/94387"}],"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=94387"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94387\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=94387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=94387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=94387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}