Archive for the ‘Pension Schemes’ Category
Follow BAe Systems’ lead on pensions
It is good to see that some employers actually respect their employers and will do everything in their power to ensure the likes of pensions stay as stable as possible for the future.
It would be even better to see a few other major players in employment follow BAe Systems’ example.
Follow BAe Systems’ lead on pensions
Unite, the UK’s biggest aerospace and engineering union, today (Monday) welcomed BAe Systems’ announcement that it will not be changing any benefits or asking workers to increase their contributions.
This good news comes despite an increase in deficit of the BAe pension scheme.
Railway pensions under threat
Britain has had a fairly stable railway service for a number of years, so its no wonder why the second largest union got concerned when it heard about threats within the railway employment, regarding pensions.
The union will be presuring workers to vote for industrial action, most of the 7,000 workers are expected to vote in favour.
Britain’ second largest rail union is urging 7,000 Network Rail workers to vote in favour of industrial action.
The Transport Salaried Staffs’ Association has opened a ballot over strike action, warning of “widespread disruption” if it goes ahead.
Fear of pension scheme’s
Many businesses are worried that pension schemes could have more of a negative affect on their business, than a positive one.
This comes after statistics revealed that around 90 percent of companies expressed they were worried about the affect pensions schemes would have on their business.
Nine out of 10 companies are worried about the impact their pension scheme will have on their business, research showed.
Around 90% of firms that still offer a defined benefit pension said they were concerned that the scheme’s trustees would ask them to increase their contributions to it at a time when they can least afford it.
Rolls Royce feel the wrath of pension deficit
Several civil aircraft manufacturers have began to see a slow down in their revenue thanks to the uncertainty and insecurity that surrounds the pension markets.
The current uncertainty has led to companies such as Rolls Royce loosing huge chunks of their original share value.
Rolls Royce feel the wrath of pension deficit
Rolls-Royce lost 12p to 321¾p amid worries that positive full-year results on Thursday would be ruined by a widened pension deficit and uncertainty over future demand for civil aircraft.
Dennis Jullens, a UBS analyst, reiterated “sell” advice with a 282p price target saying that although the aero-engine maker has moved much of its pension assets out of equities, there is a rump exposure that could drastically widen a pension funding gap.