All entries for Monday 27 October 2014
October 27, 2014
The best account I have read of the pensions crisis is this booklet: 'You're on your own'
It explains how Defined Benefit pensions (whether final salary or career average salary) are far superior to Defined Contribution pensions (building up a 'pension pot' that you cash in on retirement and use in whatever way to support yourself for the rest of your life).
It also explains how we got to the present situation with good DB pension schemes being closed in company after company. It puts the current USS crisis in perspective.