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MyCompanyPension.co.uk - Helping members of occupational pension schemes to better understand their benefits.
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:: Blog | September 2009 (9 blogs) | Pension contributions: you get what you pay for
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Pension contributions: you get what you pay for
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The news that Unison is allegedly looking at closing its final salary scheme will no doubt raise eyebrows, particularly in the public sector. It follows closely on the heels of Whitbread’s announcement on Friday to do the same. But the one statistic that surprised me most of all of the weekend’s articles was contained in the Huddersfield Daily Examiner’s article about Kirklees Council’s pension deficit.
Whilst being in deficit is by no means unusual, what I found intriguing was the level of employer contributions it pays in as a percentage of its employees salaries. Surely, it’s far too low for the level of benefits that the LGPS provides scheme members? See:
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Mike Jones, MyCompanyPension.co.uk Ltd, September 7th 2009
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