Monday, June 12, 2006
Ok I accept that pensions is a big issue and a big problem facing all of us. But this article in Saturdays Guardian worried me. We may need to raise the retirement age, we may need to contribute more and we may need to find ways of ensuring that everybody contributes to their future retirement fund and not just through the state pension provision. But the argument put forward by Christine Farnish, the chief executive of the National Association of Pension Funds worried me. She argued that "employers should be able to cut retrospectively benefits built up by employees in "guaranteed" occupational schemes." If this is what she believes then I wonder why she is the Chief Executive of National Association of Pension Funds which says on its website front page "We work to promote an environment where people can save for their retirement, with confidence, in the workplace. " I am not sure how retrospectively stealing pension funds which have already been earned is supposed to give people the confidence to save for their retirement through workplace pension schemes.