The UK Pension Consultation was extended regarding reducing the non-contributory amount from 12% to 9%. The changes were initially expected to take effect from 1st April, does anyone have any updates? Will this take effect as initially planned or changed/delayed etc?
10 replies (most recent on top)
Why can’t U.S.A. Employees get even a fraction our employees across the pond?
How biased can HR be…
As always the U.K. makes out and Americans suffer.
I’d be turning cartwheels with a UK pension.
Congratulations on dodging the bullet. Our pensions are now Penney’s on he dollar.
Not if you calculate FX rates. Pounds and Dollars are different things.
For my colleagues in the US (and presumably other countries as well) who are thinking this is generous, it's worth noting salaries are considerably lower in the UK compared to the US for the same roles (particularly those based outside London). Consequently, the pension amount is a very important part of the employee ''package'' here in the UK.
Why are disassociated people downvoting strong pension protection laws in the U.K.? I sure wish that the U.S. still had them.
@1piv+1llR1s93 strong labor laws in general, they don’t know how good they have it
All of you across the pond should be thankful for your strong pension laws. We in the states had our pensions cut to 30% to 50% of promised payouts.
I heard last week that it was still under consultation. They will give us a window in myflex to contribute the additional 3% if they are going ahead with the 9% instead 12%.