How fantastic is this? The Cherub has become a pensioner at the ripe old age of 13. Because his dad worked for a fair minded employer, who provided a Final Salary Pension Scheme...the cherub is entitled to a pension until he is 21 or leaves school.

The cherub is, at this moment, earning more than I am... Obviously I haven't told him that because I don't want him dictating a shopping list full of pasta, Ben & Jerry's and popcorn anytime soon.

Compare and contrast with the letter I received last week from the administrators of the Big American Bank's pension scheme. As I was made redundant with less than 5 years service, I am to transfer my pension before the 31st December or lose all my employer's contributions. Current circumstances notwithstanding....

And with the clarity of the recently TEETOTAL I understand two things.
1. Exactly how expendable people are in the financial services INDUSTRY.
2. Nothing, not fame not glory, not even SKINNY beats a final salary pension**

**Memo check out Craig's post retirement prospects as an NHS dentist.