The Pension Surplus is protected fully by Government and Trustees.
Remember the pension surplus would still there if everyone retired tomorrow and got their full pay out.
The pension trustees will decide when they believe it is safe and it is often at the point when they sell it onto an insurance company to administer.
We do not expect this is happen until 2028 at the earliest. When it does then the CWU will get a share of this to go into the employee benefit fund to use to benefit employees which include helping quicken any equalisation pathway or bring the pension age of the new scheme down from 67.
I'm not in the pension, never have been, and even I see that ALL surplus must ONLY be used to benefit those who've paid in!
Martin Walsh is saying the CWU may receive an amount t from this surplus which may lead to equalisation.
How ? If the CWU receive the money are they going to pay the new starts themselves ? No harm Martin but taking other people’s money and dishing it out on what you and your fellow Union leaders think it should be spent on is a disgrace. Has to be the worst leadership Union paying members could possibly have gotten.
Up to 25% of pension surplus can be taken by the company to improve company liquidity. And it is taxable. I am sure the skint government ( who'll steal pennies off grannies ) will have your interests at heart Don't worry. Your are protected by the government... a slice for you Daniel. A slice for Rachel.. and crumbs for the plebs.
The Pension Surplus is protected fully by Government and Trustees.
Remember the pension surplus would still there if everyone retired tomorrow and got their full pay out.
The pension trustees will decide when they believe it is safe and it is often at the point when they sell it onto an insurance company to administer.
We do not expect this is happen until 2028 at the earliest. When it does then the CWU will get a share of this to go into the employee benefit fund to use to benefit employees which include helping quicken any equalisation pathway or bring the pension age of the new scheme down from 67.
I've had to go back and read the end bit of this a few times in order to convince myself that I actually read what you wrote there, but you did. Sad times.
Don't worry. Your are protected by the government... a slice for you Daniel. A slice for Rachel.. and crumbs for the plebs.