final-salary

As we move away from generous final-salary pensions their employer guarantees it is becoming essential that everyone takes individual responsibility to plan their retirement savings.

Pensions: the public sector is in denial 2011

The government also confirmed that generous public sector final-salary schemes will be scrapped and replaced with benefits based on a career average.

Pensions: the public sector is in denial 2011

As we move away from generous final-salary pensions their employer guarantees it is becoming essential that everyone takes individual responsibility to plan their retirement savings.

Pensions: the public sector is in denial 2011

Which raises the question of why do so many bosses retain final-salary benefits when their staff rely on stock market investments for theirs?

It's time for fat cats to go on a diet 2011

The government also confirmed that generous public sector final-salary schemes will be scrapped and replaced with benefits based on a career average.

Pensions: the public sector is in denial 2011

An independent report recommended Thursday that public-sector workers be switched from lucrative final-salary pension schemes to ones based on their average earnings to help reduce the burden on the government's finances

U.K. Pension Report Urges Major Reform Ainsley Thomson 2011

Anyone exceeding these limits will have to pay tax on the excess contributions but the government said the majority of those in final-salary schemes would not be hit by the cuts as people who exceed the annual allowance due to one-off spikes in pension accrual (such as a sudden salary rise) will be allowed to offset them against their unused allowance from up to the previous three years.

High earners hit jackpot in pension tax rethink Jill Insley 2010

They have largely insulated those in final-salary schemes from the rule that means they will have to pay tax on contributions if they get a promotion or big salary increase; they have capped the benefit to 100,000 people at the top who were making the biggest use of tax relief; they have massively simplified the pension system.

High earners hit jackpot in pension tax rethink Jill Insley 2010

Dave Prentis, general secretary of UNISON, the U. K.'s largest public-sector union, said final-salary schemes should be retained and criticized any plan to raise the retirement age for public workers.

U.K. Public Sector Report Recommends Pension Changes Ainsley Thomson 2010

She spoke of how the world is uncertain today, that there are few "jobs for life" with final-salary pension schemes; that large, apparently secure companies can collapse (Enron) or be sold/split up (P&O), and that new, small companies can mushroom (Google) or be sold for vast sums of money overnight (YouTube).

Current Affairs Maxine 2009