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[cem_devecioglu]

Cem - they demand their members are paid a certain percentage of their salary on retirement until they die,even though the cost is enormous. Also people live a lot longer than they used to which makes it impossible.The workplace is losing money on a large scale,but Unions seem to think that's not relevant,their demands must be met. They even go on strike to try and force the company to meet their demands. So the workplace loses even more money.
It doesn't matter though,they say they are entitled. Marxist claptrap.
Result - workplace shuts down. No-one has a job.
If every company has a garden which has money trees they could pay everyone what they want to be paid (until the hyper inflation kicks in at least),but until then - if it hasn't been earned and is sitting in the bank,it cant be paid out to people.

pardon 

what do you understand from retirement ?  a retired old person who gave whole young years life for work day and night and then expected to live in a cold home without any food and money..

sorry I forgot to think about the company is loosing money

seriously it had to be planned and realised before, by the company when the workers signed up the contract .. 

[cem_devecioglu]

and dont tell me a refinery was always going minus all those years..  where is the money produced by the workers ?

let me tell you .. all spend .. somewhere else without any plan for the future

[cem_devecioglu]

for your information: those lies that firm/company/factory is going downhill ,we must cut the costs otherwise everyone looses jobs blah blah..

 

I cant tell how many times I have heard those lies here and there..  but I promise you this wont be the last that you hear!!!

[TheBoy]

No, the petro chemical plant looks to have been losing money for years, and pensions are crippling UK companies, as workforces have shrunk (so less going in), people living longer (so more than planned coming out), and the investments have flatlined at best.

I was kicked out of a final salary pension 9 yrs ago when I was TUPE'd to a tinpot yankee computer firm. Thats the reality in the private sector now, and WILL come to the public sector soon. For each £5k pa at retirement, you need approx £100k pension fund. Imagine how little £5k will be in 25yrs when I retire...

[tunnie]

BSkyBs pension contributions are healthy for a private company, 8% while I put in 4%. They had a new online calculator, it's scary how much you need for a "healthy" pension. Even something modest such as £15k pension in today's terms, I needed to increase my contributions massively. I've now increased to 8% myself, so 16 combined. Even this is not enough, I need to go further soon.

Think people in pubic sector are dreaming if they think their pensions can continue the way they are, so many need to wake up.

[cem_devecioglu]

No, the petro chemical plant looks to have been losing money for years, and pensions are crippling UK companies, as workforces have shrunk (so less going in), people living longer (so more than planned coming out), and the investments have flatlined at best.

I was kicked out of a final salary pension 9 yrs ago when I was TUPE'd to a tinpot yankee computer firm. Thats the reality in the private sector now, and WILL come to the public sector soon. For each £5k pa at retirement, you need approx £100k pension fund. Imagine how little £5k will be in 25yrs when I retire...

its the managers/govt/politicians duty to take care of you when you retire..  people living more or costing more or system unprofitable now is whole load of b*llix..   but what amazes me that even intellectual people like you even accept that

[TheBoy]

No, the petro chemical plant looks to have been losing money for years, and pensions are crippling UK companies, as workforces have shrunk (so less going in), people living longer (so more than planned coming out), and the investments have flatlined at best.

I was kicked out of a final salary pension 9 yrs ago when I was TUPE'd to a tinpot yankee computer firm. Thats the reality in the private sector now, and WILL come to the public sector soon. For each £5k pa at retirement, you need approx £100k pension fund. Imagine how little £5k will be in 25yrs when I retire...

its the managers/govt/politicians duty to take care of you when you retire..  people living more or costing more or system unprofitable now is whole load of b*llix..   but what amazes me that even intellectual people like you even accept that

Its reality. Where is this money going to come from 

[TheBoy]

BSkyBs pension contributions are healthy for a private company, 8% while I put in 4%. They had a new online calculator, it's scary how much you need for a "healthy" pension. Even something modest such as £15k pension in today's terms, I needed to increase my contributions massively. I've now increased to 8% myself, so 16 combined. Even this is not enough, I need to go further soon.

Think people in pubic sector are dreaming if they think their pensions can continue the way they are, so many need to wake up.

Sounds not far of statutary TBH, far from generous.  My current employer, for the next 3 weeks anyway, puts in 12.6% and I put in 10%. Thats not really enough either.

[tunnie]

Next 3 weeks? Wtf? 

12.6 is good, many others I know get nothing 

Compared to most of my Uni class mates, Sky's is one of the highest.

[TheBoy]

Next 3 weeks? Wtf? 

12.6 is good, many others I know get nothing 

Compared to most of my Uni class mates, Sky's is one of the highest.

Law changed 2 or 3 years back, if employee puts in 5%, employer must put in 6% (% figures may be a % out), if more than 5(?) employees

[tunnie]

Next 3 weeks? Wtf? 

12.6 is good, many others I know get nothing 

Compared to most of my Uni class mates, Sky's is one of the highest.

Law changed 2 or 3 years back, if employee puts in 5%, employer must put in 6% (% figures may be a % out), if more than 5(?) employees

Hummm, cause Sky lowered their rate since I joined. It used to be I put in 4, they put in 8. Which is what I am on.

Now it's you put in 3, they put in 6. Change came with new state pension thing, I chose not to opt out. So in effect I get 3 pensions. Apparently.

[albitz]

My employer puts in 10% regardless of what I put in,which is much better than what I had previously.
Previous employer had a final salary scheme initially,but sent a letter to employees one day informing them that they had shut it down.
They said that if employees got themselves a new pension scheme they would match employee contributions - up to 5%.
A few years later it transpired the contributions had only been matched up to 3%. They denied ever saying 5% until I produced my copy of the letter thy sent. They then claimed it was a typo error and they wouldn't honour it.
If there was ever a company which deserved an unreasonable militant union, Milbank concrete floors was it.

[cem_devecioglu]

No, the petro chemical plant looks to have been losing money for years, and pensions are crippling UK companies, as workforces have shrunk (so less going in), people living longer (so more than planned coming out), and the investments have flatlined at best.

I was kicked out of a final salary pension 9 yrs ago when I was TUPE'd to a tinpot yankee computer firm. Thats the reality in the private sector now, and WILL come to the public sector soon. For each £5k pa at retirement, you need approx £100k pension fund. Imagine how little £5k will be in 25yrs when I retire...

its the managers/govt/politicians duty to take care of you when you retire..  people living more or costing more or system unprofitable now is whole load of b*llix..   but what amazes me that even intellectual people like you even accept that

Its reality. Where is this money going to come from

question is , where has the money gone which was created before..   if this is bussiness ,  all precautions must be made in time..

and in case necessary those workers either must be shifted to another job or area..  but a retirement without any money is unacceptable even in war..

[cem_devecioglu]

My employer puts in 10% regardless of what I put in,which is much better than what I had previously.
Previous employer had a final salary scheme initially,but sent a letter to employees one day informing them that they had shut it down.
They said that if employees got themselves a new pension scheme they would match employee contributions - up to 5%.
A few years later it transpired the contributions had only been matched up to 3%. They denied ever saying 5% until I produced my copy of the letter thy sent. They then claimed it was a typo error and they wouldn't honour it.
If there was ever a company which deserved an unreasonable militant union, Milbank concrete floors was it.

a single worker has no power in front of the "system" ..  without unions , the system will chew you and spit you any moment..

[albitz]

No-one retires with no money in this country Cem. Pensions are relatively generous for everyone. There is a crisis in pensions though due to the factors TB mentioned.