Pension pdf split from new agreement

Schiff · Post by **Schiff** » 01 Feb 2018, 20:04

NRA to be 67 with an actuarial deduction if taken earlier?

At least a straight DC scheme gives you more flexibility about when you retire and how you take your benefits. This sounds like the worst possible option. Why are RM allowed to get away with lower employer contributions for those who prefer the DC scheme?

heapsy · Post by **heapsy** » 01 Feb 2018, 20:46

Three things stand out. 1 The pay rise doesn't kick in until 2nd OCTOBER 2017. WTF! The pay rise was due from 1st APRIL! 2 NRA of 67. Are the union serious about that? How many people in delivery will vote for THAT? 3 There is no way of working out what you might get. What happened to a wage in retirement?

I will definitely be voting NO.

anini · Post by **anini** » 02 Feb 2018, 00:50

Schiff wrote:NRA to be 67 with an actuarial deduction if taken earlier?

At least a straight DC scheme gives you more flexibility about when you retire and how you take your benefits. This sounds like the worst possible option. Why are RM allowed to get away with lower employer contributions for those who prefer the DC scheme?

Exactly what I thought. In all reality delivery personnel will only be able to go on till 60 before their bodies give up. At least with the DC scheme you could draw your pension early without any penalties ( 25% lump sum or draw a bit more until the state pension kicks in. Most delivery personnel will probably leave before 67 and either pay the penalty for taking the pension early ( in which case the CWU case falls flat ) or grind out a living in another less physical job. Both schemes should have had contribution parity.