Mark gave a rousing speech to the delegate conference.In his speech he alerted delegates to ominous detail of the coalitions plans for our pensions.
Firstly they plan to freeze all the current schemes.
Secondly they intend to introduce career average pensions for any future service, but based not on 40ths as the Nuvos scheme, but rather less than half that with 80ths or even 100ths.
Furthermore they intend to introduce a 3% contribution increase on all public service pensions.
Perhaps even more worrying for those approaching 60, they intend to extend the state pension qualifying age to 68 and align public service pensions to that age also.
On top of that the change of CPI from RPI will reduce the value of many pensions by as much as 20%.
The fight begins here.
