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.
21 December 2009 at 22:12
Craig will never become old in the tooth. He'll just file them down and fit some veneers.
When 60% of the population becomes over 60 the mathematics of the final-salary-pension don't really add up.
22 December 2009 at 10:39
I could advise the cherub how to live a life of idling.
But he's probably a bit too young.
22 December 2009 at 14:00
I may disagree on the SKINNY thing...
Sx
23 December 2009 at 11:44
I'm shocked to find that the financial services industry has a heartless side.
23 December 2009 at 13:38
Rog - D'ye know, dentists actually do their own veneers and fillings???? Craig told me..
Kaz - no advice needed. The kid is a natural idler... it's a gift.
Scarlet - Yay - and on the plus side, SKINNY might be the only option given my current pension provision
Mr Musgrove - You'll always remember you heard it here first then..?