To: the U.K. government
challenge proposals to permit companies to end index linking pensions
Put an end to examining ways companies can end having to index-link pensions, to recipients of final salary pension payments as proposed in the newly issued "Green Paper" titled 'Conditional Indexation'.
Why is this important?
Millions of retired people rely on their pension payments keeping pace with inflation.A leading firm of actuaries has calculated that this would result in a 30% drop in income over the average period these payments are paid.
Apart from anything else this would dramatically reduce the spending power of the retired, badly effecting the economy, and create a "pensions apartheid". It is totally unacceptable for people to be denied what they are legally entitled too under the terms of their employment/retirement.
Apart from anything else this would dramatically reduce the spending power of the retired, badly effecting the economy, and create a "pensions apartheid". It is totally unacceptable for people to be denied what they are legally entitled too under the terms of their employment/retirement.
