It’s just as well I have a plan…..

Sometimes I wonder if there isn’t someone or something somewhere out there trying to get me!!  After all getting divorced and splitting the assets has been one financially depressing reality!

Yesterday, full of Christmas cheer and goodwill to all men (and women) our Directors announced a ‘consultation’ period on their proposal to close our Final Salary Pension Scheme.

Now anyone with more than one braincell can work out that the ‘consultation’ is purely a method of us airing our angst and that actually the whole deal is one which is ‘done’, ‘dusted’ and ‘in place’. 

So I spent a happy productive realistic time last night working out how this is going to effect me.  And the net effect of this deliberation and reading of copious amounts of paperwork revealed I will be 20% worse off than I thought I would be in 4 years time when I’m due to retire. 

Being financially secure (which I was 3 years ago) is swiftly becoming a dark and distant memory!

Hoorah!!  Have a mince pie and a festive drink!

Just as well I’ve decided to train as a Life Coach. I knew I was going to need to boost my income when I retired.  Now I’m going to have to!!  

In fact perhaps I should set my goal to be the best Female Life Coach ever!!  So I get masses of clients!!

No pressure then!!

6 thoughts on “It’s just as well I have a plan…..

    • Yup! Sums it up nicely!!

      At lunch time today we were given said festive cheer by our directors in the form of wine, mince pies and carol singing. I didn’t feel very festive! And I couldn’t drink as I have a 70 mile journey home in the dark and rain so needed to keep my mind on the task in hand – which much to their probable chagrin is staying alive.

      Or perhaps that was their clever wheeze to reduce the liabilities by killing off a few of the would be pensioners…. !!

      Just a thought!!!

  1. I hear you, Caroline. Financial chaos due to the machinations (or lack of required input) of others is a very bitter pill. Tizzying it up in Christmas spirit is a very low act.
    However, I think you have set yourself up well, doing something you truly believe in – and this before the bad news was announced, making it a viable and wanted option rather than an undesired and unwanted one.
    Maybe retirement isn’t all it’s cracked up to be, anyway?
    But, good luck!

  2. The whole pension situation in the UK is a terrible mess. Company final salary schemes were great, until you found out that the companies themselves were dipping in to the funds when times got hard.
    In fact any pension scheme is great while investments are doing well. But now you find yourself pouring money in to a scheme where by you seem to be paying a fee for them to loose your money, yet still earn good bonuses for themselves.

    And it gets worse, I have to face the fact that the kids will need more and more finacial support, as the government whats to screw more out of them for further education, at the same time the prospect of a livable pension seems to be a distant dream.

    Think i’ll just give up now on the thought of retirement and just work until I die.

    I’m sure you are quite capable of becoming the best life coach ever.

    • Final Salary Pension schemes were fine until a certain Labour Chancellor raided them for a windfall tax at the end of the Nineties. As a great friend and one of the country’s leading pension experts said to me at the time “This has now destroyed something which ws the envy of the rest of the world”. She was right.

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