university pension

hans solo · Post by **hans solo** » 22 Feb 2018, 15:14

uni staff to ballot over pension changes
they are currently in defined contribution scheme and are being forced into dc scheme
why then does rm and cwu want us to accept dc scheme others are prepared to strike for
thoughts

gary1975 · Post by **gary1975** » 22 Feb 2018, 15:53

hans solo wrote:uni staff to ballot over pension changes
they are currently in defined contribution scheme and are being forced into dc scheme
why then does rm and cwu want us to accept dc scheme others are prepared to strike for
thoughts

A defined contribution scheme and a dc scheme are the same thing ?

hans solo · Post by **hans solo** » 22 Feb 2018, 17:01

sorry meant to say db scheme to dc

Post by **Lincox** » 22 Feb 2018, 17:25

You do not have to accept it. You can all vote no and go out on strike like the University Lecturers. You know that is not going to happen.

TheTrolleyMan · Post by **TheTrolleyMan** » 22 Feb 2018, 18:41

That's why it's a no from me , what kind of union puts my pension age back 2 years ?

hans solo · Post by **hans solo** » 22 Feb 2018, 22:07

f***ing should have went out

kev1967 · Post by **kev1967** » 23 Feb 2018, 14:06

hi
am I confused here as I dont see what this has to do with us as we would be going into something completely new called a cdc scheme?
this effectively means we dont take all the risk as in a dc scheme because royal mail pay in more than 15% i believe, we pay in 6% and it all goes into a big pot so less danger or am i wrong?

fishtank · Post by **fishtank** » 23 Feb 2018, 14:23

we would be going into something completely new called a cdc scheme?
this effectively means we dont take all the risk as in a dc scheme because royal mail pay in more than 15% i believe, we pay in 6% and it all goes into a big pot so less danger or am i wrong?

1. We still carry all the risk, just collectively instead of individually, there are some risks that both schemes share and some that are specific to the scheme. Is there less risk overall? It's difficult to say as there's also less individual control.

2. Royal Mail are putting in 13.6%, we are putting in 6% but around 3.7% of that will not go into the CDC scheme it will go into the DBLSS (lump sum) pot.

3. The size of the pot has little to do with risk, it's more to do with how it's managed.

Celgar · Post by **Celgar** » 23 Feb 2018, 19:58

With the current RM pension scheme you are told what you will receive and it is fairly guaranteed. With the new scheme there will not be any guarantees and the return will largely be based on the investment abilities of the people running it. Hopefully its not the people that have been running our pension scheme so far.

TheTrolleyMan · Post by **TheTrolleyMan** » 26 Feb 2018, 20:29

Celgar wrote:With the current RM pension scheme you are told what you will receive and it is fairly guaranteed. With the new scheme there will not be any guarantees and the return will largely be based on the investment abilities of the people running it. Hopefully its not the people that have been running our pension scheme so far.

And we've all seen the dismal returns that the trustees have gotten us over the last 2 years