CDC pension

Rommagic · Post by **Rommagic** » 03 Oct 2018, 17:57

It's been six months and still not a CDC pension why?,will it happen?.

Post by **RobertT** » 03 Oct 2018, 18:31

It's been covered many times on these forums!

The works and pensions committee have discussed it and now the government has announced it's going to consult on CDC. It involves new legislation being passed, so it's not going to happen quickly, especially with Brexit on the horizon.

Pension changes tend to happen from 1st April in any given year, so in my opinion, the earliest CDC will start if it does, is April 2020.

Although personally I wouldn't be surprised if RM try and wriggle out of it, to try and save some cash after the recent profit warnings.

Rommagic · Post by **Rommagic** » 03 Oct 2018, 19:54

arnold cheshire · Post by **arnold cheshire** » 04 Oct 2018, 18:08

I'd rather have my own pot anyway

Post by **Navalron** » 04 Oct 2018, 21:58

CDC. CRAP. It was all a bit con. We all know it and the union new it and still bent over. The union really needs to get its act together. Although still one of the better ones left i think it's time for a big change from top down to area. Too many comfa bums in cushy jobs, I'm alright jack. Get more militant left wingers in. Then maybe just then things including a half decent pension will be forthcoming.

Post by **milly** » 05 Oct 2018, 10:25

Navalron wrote:CDC. CRAP. It was all a bit con. We all know it and the union new it and still bent over. The union really needs to get its act together. Although still one of the better ones left i think it's time for a big change from top down to area. Too many comfa bums in cushy jobs, I'm alright jack. Get more militant left wingers in. Then maybe just then things including a half decent pension will be forthcoming.

Yes having Militant left wingers certainly worked for British Leyland

Post by **milly** » 05 Oct 2018, 10:29

arnold cheshire wrote:I'd rather have my own pot anyway

I joined the RMDCP for that reason as I would rather be in charge of my own destiny.

Woody Guthrie · Post by **Woody Guthrie** » 05 Oct 2018, 11:52

Yes having Militant left wingers certainly worked for British Leyland

What killed British Leyland was piss poor management, even the piss poor management admitted that. While the Japanese were building cheap reliable cars we were building the Austin Allegro complete with its square steering wheel and tendency to make you sea sick. Easy to blame the workers but if you do a little research you'll find out that the company was run into the ground with a catalogue of catastrophic business decisions made by a succession of inept bosses most of whom disappeared into the night with a suitcase full of cash and a knighthood.

There was a BL plant in my home town and I know a lot of people who worked there, it wasn't militant it was just a shambles with no-one really in charge but when it shut the town nearly died with it.

Post by **RobertT** » 05 Oct 2018, 12:21

milly wrote:
arnold cheshire wrote:I'd rather have my own pot anyway
I joined the RMDCP for that reason as I would rather be in charge of my own destiny.

I thought long and hard about whether to stay in the RMPP and pay into the DBCBS, or whether to opt out and go for the RMDCP, and I understand why some people want the flexibility of DC, especially if you've already got a decent DB pension.

In the end the main reason I stayed with the RMPP was because my accrued benefits(pre 2018) would continue to increase by RPI, whereas if I'd gone the RMDCP route, they'd only go up by CPI. Over the 10 years between 2018 and when plan to take my NRA60 benefits(15 years for the NRA65), the difference in guaranteed index linked income for life, could be quite substantial.