Changes to pension scheme 'could ruin retirement plans'

www.moneynews.co.uk > Pensions calculator > Changes to pension scheme 'could ruin retirement plans'

Changes to pension scheme 'could ruin retirement plans'

Mon 13th Jun 2011

Government alterations to the public sector pensions scheme could jeopardise retirement plans for teachers, an industry campaigner has claimed.

Association of Teachers and Lecturers (ATL) member Gill Stainthorpe has argued that changes to the current system will affect every member of staff who is part of the savings scheme.

Her comments come after the ATL announced plans to launch its first national strike ballot in the union's history, which could result in 80,000 members refusing to go to work.

Continuing employment until the increased age of 68 could have a negative effect on the performance and ability of teachers, Ms Stainthorpe remarked.

She added: "[Teachers] know that they won't be operating at the same level that they would have done when they were younger."

The ballot, which runs until tomorrow (June 14th ), is the first instance of legal action from the ATL since 1979, when staff members protested against changes to teachers' wages.

Click here for more pensions news

Related News : Pensions calculator
	Pension savers reach record low
	Brits 'should be able to save at ATMs'
	High earners pension tax relief to change
	Pensions 'are still confusing for many'
	EU proposals could damage UK pensions
	QE 'has negative impact on pensions'
	TUC advises on boosting pensions savings
	Delaying retirement 'significantly boosts pensions income'
	Pay freezes 'set to continue'
	Brits 'must be increasingly resourceful'