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MyCompanyPension.co.uk - Helping members of occupational pension schemes to better understand their benefits.
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:: Blog | February 2009 (16 blogs) | Wage freeze tempts senior staff to consider early retirement
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Wage freeze tempts senior staff to consider early retirement
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According to this article, nearly 20% of pay settlements in January effectively amounted to a wage freeze. This hasn’t gone down well with senior management to the extent that those who enjoy the benefit of being a member of a final salary scheme are considering early retirement where bonuses and pay have been frozen.
The argument is why wait to ride out the recession? Of course, the decision to draw benefits earlier than Normal Retirement Date isn’t always straightforward. But it’s yet another thing for employers to consider who don’t want to lose experienced managers. See:
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Mike Jones, MyCompanyPension.co.uk Ltd, February 5th 2009
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