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They did something with tax relief if I remember. It was individual companies and corps that decided to stop final salary pensions though and not any govt
Tony Blair and Gordon Brown made all the private pension schemes unaffordable with their windfall tax on pensions schemes.
Rather ironic now as private pension are now much smaller and the government gets less income tax as the pensions are smaller
Good to see one strike has been settled thanks to the unions and company negotiations. The dockers at Felixstowe have settled for 8% which is reasonable and affordable. This was done with less than 5 strike days in the 3 months dispute.
The means export and imports through the UK's largest container port will continue.
Funny how the BBC has not reported this in any great detail.
Tony Blair and Gordon Brown made all the private pension schemes unaffordable with their windfall tax on pensions schemes.
Rather ironic now as private pension are now much smaller and the government gets less income tax as the pensions are smaller
Whether they are unavoidable is open to debate. Huge companies like BP and Shell with their massive profits have jumped on the bandwagon and stopped final salary pensions, which they can easily afford. These big corps are swimming in money.
Good to see one strike has been settled thanks to the unions and company negotiations. The dockers at Felixstowe have settled for 8% which is reasonable and affordable. This was done with less than 5 strike days in the 3 months dispute.
The means export and imports through the UK's largest container port will continue.
Funny how the BBC has not reported this in any great detail.
We love negativity in this country FJ.
Why would the left wing beeb bother reporting on it.
A million minimum wage vacancies? I know a lot of sectors are currently oversaturated with 60-70 year old employees in most positions past entry level. Job progression is incredibly difficult for any youngster today as there simply aren't as many opportunities as others had previously.
Wouldn't progress in a developed country be lowering pension age not increasing it?
A million minimum wage vacancies? I know a lot of sectors are currently oversaturated with 60-70 year old employees in most positions past entry level. Job progression is incredibly difficult for any youngster today as there simply aren't as many opportunities as others had previously.
Wouldn't progress in a developed country be lowering pension age not increasing it?
Totally untrue, do a search on indeed or check out LinkedIn.
Not sure if you are talking about the public sector where job progression is difficult for younger people but it certainly isn't in the company I work for.
Its a shame we don't have good transport links into South Wales as that would obviously see more companies moving to the area, but that's been done to death.
A million minimum wage vacancies? I know a lot of sectors are currently oversaturated with 60-70 year old employees in most positions past entry level. Job progression is incredibly difficult for any youngster today as there simply aren't as many opportunities as others had previously.
Wouldn't progress in a developed country be lowering pension age not increasing it?
My son, 25, works in IT security. He says there is a considerable shortage of good people. Go look at the job sites. His former employer contacted him last month offering a £25K pay rise. He turned it down as his existing company is offering him a share in the business. In his last job his was in a team of six, he said four were not really up to the job. The two who got on with it were completing 85 percent of the work, so they walked. He works hard and studies in his spare time, he is dyslexic and this seems to really help him in his work.
PS as for lowering the pension age we have a rapidly ageing population who are living longer than ever and successive governments have eroded non state pensions over the last 40 years. So how do you pay for more state pension provision?
My son, 25, works in IT security. He says there is a considerable shortage of good people. Go look at the job sites. His former employer contacted him last month offering a £25K pay rise. He turned it down as his existing company is offering him a share in the business. In his last job his was in a team of six, he said four were not really up to the job. The two who got on with it were completing 85 percent of the work, so they walked. He works hard and studies in his spare time, he is dyslexic and this seems to really help him in his work.
PS as for lowering the pension age we have a rapidly ageing population who are living longer than ever and successive governments have eroded non state pensions over the last 40 years. So how do you pay for more state pension provision?
Well putting up comments about you being able to handle yourself and still trying to convince others of that at your age is a little odd, you must be one of these John Fury types but sadly for him plenty of youtube footage was found proving he is not a tough guy after all so in future i will now be referring to you as Mr Fury.
Yes, he had a few ups and downs, schools are a nightmare for a dyslexic and it took a few years to put that behind him. Our education system should play to strengths rather than try to shoehorn everyone through academic routes. He fell into IT after taking a helpdesk job as a student, after a couple of poor employers he got promoted every three months for two years in a large corporation and then picked up a job with a forward thinking small cyber security business. He's going well both personally and professionally and all through his own efforts.
Totally untrue, do a search on indeed or check out LinkedIn.
Not sure if you are talking about the public sector where job progression is difficult for younger people but it certainly isn't in the company I work for.
Its a shame we don't have good transport links into South Wales as that would obviously see more companies moving to the area, but that's been done to death.
Obviously some fields are different to others, as Jackman has said there is a huge demand for skilled IT workers. I have worked in both private and public, have found in both that progression has slowed down for the youngers ones. Without moving for promotion it is even harder in Wales especially outside of Cardiff.
My son, 25, works in IT security. He says there is a considerable shortage of good people. Go look at the job sites. His former employer contacted him last month offering a £25K pay rise. He turned it down as his existing company is offering him a share in the business. In his last job his was in a team of six, he said four were not really up to the job. The two who got on with it were completing 85 percent of the work, so they walked. He works hard and studies in his spare time, he is dyslexic and this seems to really help him in his work.
PS as for lowering the pension age we have a rapidly ageing population who are living longer than ever and successive governments have eroded non state pensions over the last 40 years. So how do you pay for more state pension provision?
[Post edited 14 Dec 2022 17:28]
I'll agree with you there, IT is a field thst is in demand for skilled workers. I know a few who can code that are constantly getting job offers.
Pension age is at 67 due to rise to 68, possibly further. The average life expectancy is 80, so 13 years of retirement if you are average. We seem to be able to conjure up enough money for most things that would generate private shareholder profits, but not things that would be beneficial for the larger population.
Obviously some fields are different to others, as Jackman has said there is a huge demand for skilled IT workers. I have worked in both private and public, have found in both that progression has slowed down for the youngers ones. Without moving for promotion it is even harder in Wales especially outside of Cardiff.
Well you know who to blame for the ‘outside of Cardiff’
I'll agree with you there, IT is a field thst is in demand for skilled workers. I know a few who can code that are constantly getting job offers.
Pension age is at 67 due to rise to 68, possibly further. The average life expectancy is 80, so 13 years of retirement if you are average. We seem to be able to conjure up enough money for most things that would generate private shareholder profits, but not things that would be beneficial for the larger population.
For the last 40 years, despite the demographic evidence, governments of all political persuasions have sacrificed long term planning on issues such as health, housing, pensions and infrastructure for short term vote winners. It will be the same at the next election and the slow slide of decline will continue.
I'll agree with you there, IT is a field thst is in demand for skilled workers. I know a few who can code that are constantly getting job offers.
Pension age is at 67 due to rise to 68, possibly further. The average life expectancy is 80, so 13 years of retirement if you are average. We seem to be able to conjure up enough money for most things that would generate private shareholder profits, but not things that would be beneficial for the larger population.
A lot of IT stuff is now being outsourced to India and we need to be very careful about what the post Brexit trade deal with India looks like or we could haemorrhage good jobs.
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