| British steel pension on 23:12 - Dec 22 with 1058 views | raynor94 |
Hard to believe why people did, best thing I ever did staying in |  |
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| British steel pension on 23:15 - Dec 22 with 1055 views | CountyJim |
| British steel pension on 23:12 - Dec 22 by raynor94 |
Hard to believe why people did, best thing I ever did staying in |
Yes mate I was promised the earth to move but as they say if it's sounds to good |  | | |
| British steel pension on 23:41 - Dec 22 with 1037 views | majorraglan |
| British steel pension on 23:12 - Dec 22 by raynor94 |
Hard to believe why people did, best thing I ever did staying in |
Totally agree, madness to drop out, but there’s some pretty unscrupulous characters out there who've shafted people and their pensions to make a quick buck from a sales commission. It’s disgusting and there should be some kind of criminal sanction. |  | | |
| British steel pension on 07:13 - Dec 23 with 988 views | felixstowe_jack |
| British steel pension on 23:41 - Dec 22 by majorraglan |
Totally agree, madness to drop out, but there’s some pretty unscrupulous characters out there who've shafted people and their pensions to make a quick buck from a sales commission. It’s disgusting and there should be some kind of criminal sanction. |
The same happened with the Ford pension scheme. Ford persuaded them to transfer to the company that took over the Jersey Marine plant which went bust within a couple of years taking people's pensions with them.
Still people buy cars from unethical FORDS. | |
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| British steel pension on 08:04 - Dec 23 with 968 views | KeithHaynes |
All industries suffered from this. The attempts by the govt to get people to change in the public sector has seen some have to work an extra five years. You have to read the small print. |  |
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| British steel pension on 17:47 - Dec 26 with 808 views | jack_lord |
| British steel pension on 07:13 - Dec 23 by felixstowe_jack |
The same happened with the Ford pension scheme. Ford persuaded them to transfer to the company that took over the Jersey Marine plant which went bust within a couple of years taking people's pensions with them.
Still people buy cars from unethical FORDS. |
My brother worked at the Jersey Marine plant and moved to Bridgend not long after it was taken over. Lucky for him that even though he has lost his job at Ford's, he had a huge payout and he get's a very decent pension from aged 55. It makes me wonder how much Ford's make from selling their cars to be able to buy off employees and afford to pay those pensions.
My private pensions are awful so I can only empathise with anyone losing a pension. |  |
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| British steel pension on 11:23 - Dec 27 with 699 views | A_Fans_Dad |
| British steel pension on 17:47 - Dec 26 by jack_lord |
My brother worked at the Jersey Marine plant and moved to Bridgend not long after it was taken over. Lucky for him that even though he has lost his job at Ford's, he had a huge payout and he get's a very decent pension from aged 55. It makes me wonder how much Ford's make from selling their cars to be able to buy off employees and afford to pay those pensions.
My private pensions are awful so I can only empathise with anyone losing a pension. |
The original Ford Pension scheme was a worldwide enterprise and was extremely succesful for 2 reasons.
1. They were very good at investing the money.
2. But even more because lifelong paying in members quite often died within a year or two of retirement. (I think British Steel's was for the same reason)
They had a very large excess when they spun off Visteon, none of which went with the new company, they financed the Visteon pension scheme at the minimum requirement.
That was why the unions sued Fords on behalf of their membership and won a private settlement because they should have had a share of that surplus.
Nobody lost their pensions, but the "high fliers" on over £50,000/year with large pension pots lost quite a large percentage due to the PPF Cap and everybody lost at least 10% for entry into the PPF scheme. | | | |
| British steel pension on 09:51 - Dec 28 with 601 views | controversial_jack |
There's no better pension that the final salary scheme. It's a shame they have gone as the alternative schemes are crap in comparison. | | | |
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