By

Musicians with the UK’s Royal Opera House orchestra have opted for an improved pension plan over higher wages, a decision that could have wide-ranging consequences, writes Sophie Imeson for Pension Experts.
The decision to take a lower wage hike to “fund an improved pension scheme for new and future members” has “struck a chord with experts,” she continues.
“The move could be seen as a positive example of intergenerational fairness in an economy often described as heavily skewed towards baby boomers and against millennials. Restoring this balance has become topical in the pensions industry and beyond.”
More: New pension scheme introduced in 2013 after auto-enrol measures enacted.

ARIA provides a forum for an informed discussion on retirement income adequacy, and other related issues, including pension and retirement coverage, and defined benefit pension plans – ARIA pensions blog, 12 Dunlop Street, Barrie, ON, L4N 1V6 – sitemanager@ariapensions.ca

 

About the Author

Hi. I am an experienced writer, editor, blogger and communications strategist, providing online and print content solutions