The CWU are plainly doing their best for us long term pension wise.
Is this CDC scheme the right one and better than others out there?
It appears to me the elephant in the room is the possibility that this CDC pension can go down as well as up "in Payment", providing no certainty for financial planning.
The plus is that rather than just a lump sum that does not maintain it's value at all with inflation rises, at least it provides an income.
However, there may have been other choices.
Individual postal members will have to decide, whether to go with this CDC scheme, or invest in some other form of pension.
I thank our union, for at least attempting provision in retirement, only time will tell if this type of scheme is right (CDC)
(A small note, the current DBCBS provides for a death in service lump sum of 2 times pensionable pay + 4 times for your older RMPP pension, once CDC comes in this reverts to 4 times pensionable pay)
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