Nissan pension scheme

Whitburnmakem

Whitburnmakem

Winger
The old scheme is going through a consultation to close basically robbing their hardworking long servers, anyone been effected? the losses are disgusting. Can’t actually believe they have announced this now when nobody has any access to financial advisors
 


Until I see the documentation I cannot really say much on it as I'm totally in the dark.
It's not a huge surprise to me mind.
 
chunkylover53 said:
Are they stopping future benefits or taking all past contributions into account as well?
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I would imagine the current scheme would be similar to as if I was leaving the company and my pension frozen.
There's another scheme but I've no idea if I have to put into it or I can get some advice and do it myself.
 
joemcdokes said:
I would imagine the current scheme would be similar to as if I was leaving the company and my pension frozen.
There's another scheme but I've no idea if I have to put into it or I can get some advice and do it myself.
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If that’s the case, it’s not like the pension is being raided. Sadly most people don’t get DB schemes these days
 
Wise Man Says said:
It’ll just be a closure to future accrual, historically accrued benefits will not be affected
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That's how I see it, when you're chucking leavers huge lumpers it doesn't take long for the pot to become somewhat sparse.
chunkylover53 said:
Not great unfortunately even if so, but I’m surprised you still have it!
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They made a number of changes to it but it hasn't sorted the deficit.
Although how it worked even up to fairly recently had alarm bells ringing for me a good while ago.
 
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Most final salary schemes have large deficits and companies are trying to close them down , they will be rare in 20 yrs time
 
Fletch said:
Most final salary schemes have large deficits and companies are trying to close them down , they will be rare in 20 yrs time
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The current pots and individual Contributions are secured though aren’t they?, so anything built up to that point is protected...they are gradually protecting the pot at my place, with pension salaries only able to grow 1.5% each year regardless of your actual salary growth.
I can see a point where they close the scheme all together and move future contributions to a new scheme, hopefully they can’t screw with the current pot! Got a lot riding on it with 25/60ths already built up.
 
yamar1 said:
The days of golden pension's are coming to an end unfortunately, reserved for the MDs and CEOs.
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Not true at all, I’ve never heard of any company keeping a defined benefit/final salary scheme open only for a handful of staff.
 
joemcdokes said:
Until I see the documentation I cannot really say much on it as I'm totally in the dark.
It's not a huge surprise to me mind.
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Mines went from 24k a year to 14k a year on this new proposed scheme the lumper option is even more sickening 111k down to 67 that’s forecasted if I retire at 57
 

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