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topliner

Pension Crisis, Not If You Work For Rbs!

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I'm torn between who we should hang from the lamposts first? The bankers themselves or the politicians that gave RBS £500m of our money to bail them out?

These bank theft and bail out times are going to be making history in 10 or 20 years time.

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Around 65,000 RBS staff continue to clock up retirement benefits at a rate that the vast majority of Britons can only dream of. They make no pension contribution themselves. They retire at 60. They rack up an annual pension at the respectable rate of 1/60th of final salary for every year’s service.

This isn't the fault of the vast majority of fairly lowly paid front line staff of course, but I'm amazed that they got away with that for the last 10 years.

I wonder if this was one of the factors in bailing them than letting them fail (albeit a minor one). Would the funding for the scheme then have to fall back on the govt. guarantee? Instead they've just loaded it onto the taxpayer via the back door of public shareholding and loan guarantees.

First job should have been shutting the pension scheme.

Astonishing stuff.

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This isn't the fault of the vast majority of fairly lowly paid front line staff of course, but I'm amazed that they got away with that for the last 10 years.

First job should have been shutting the pension scheme.

Astonishing stuff.

Hmmm. interesting concept, however those lowly front liners would have suffered even more if you took the real reason for them putting in many years ofservice with RBS, the pension is a nice juicy carrot that has been waived joyously in their faces for years.

I can hear it now: "Oh you can't leave RBS Alice, think of the pension, don't be daft, stay on another 25 years"

I think many who have just tipped the 50 years of age mark, would relish a nice package...and take their pension early just to make up for the non-job they have (or will have shortly)

Front-line troops = cannon fodder!

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