pensions

News of Japan’s plans to increase the age of retirement to 70 years old will have UK workers anxious about our own plans. The Asian country’s government are hoping to pave the way for workers to stay in their role longer following Prime Minister Shinzo Abe’s desire to encourage companies to increase their self-imposed retirement age.

The EU’s pension system has been described as creating a ticking time bomb for finances, with campaign group the TaxPayers’ Alliance claiming that around £1 in every £5 of council tax in the UK is already spent to cover the local authorities’ workers’ pension scheme.. On top of this, Russia’s President Putin has appealed for his nation to accept ‘painful’ pension changes and a five-year increase on the age of retirement.

Plumbing Pensions {UK} Ltd was established in the mid seventies, employers on the scheme were and still are, many years ahead of much of the rest of UK industry offering a very generous pension scheme to their employees. Plumbing employers have and still are contributing vast sums of money into our employees pension fund.

Plumbing Employers who have never been in the scheme and have never likely contributed or offered a pension to their employees are not caught up in this issue. In other words it’s the generous good employers that are being penalised.