Lines open Mon-Fri 08:30-19:00

Pensions blog

Report abusive/offensive comment

Your complaint
Select a reason from the options or specify yours
The post about which you're complaining
Re: Nuclear winter of discontent?
So here we are…8 and a bit years from retirement, 34 years’ service to the nuclear industry, both man and boy! I’ve changed jobs a number of times, changed Site Licence Companies even, but here I am, still working loyally and proudly within the industry. Casting my mind back, I remember being really worried when I heard about the breakup of BNFL more than ten years ago. One of the areas of concern in those days was pensions. We were told that we were no longer going to be working for a government organisation and therefore had to change schemes. All was well though, lots of workforce engagement with the terms “cast iron guarantee” and “underwritten in law” applied with vigour to every pension discussion at the time. Many within NDA will remember these guarantees.  I was left reassured, relying on those promises to form a plan for my future and that of my family. So 8 and a bit years from retirement, those cast iron guarantees that I relied upon appear to be in the process of being torn up. Consultation has started, with only two (financially very detrimental) options being tabled, and already 5 years into the 10 year protection date!  Why does it feel like a done deal already? With not long to go, I know that it’s just too late to financially recover before I retire. NDA, I absolutely relied on your guarantees and you have let me down.