Cook criticises firms’ anomoly over pensions

Commons
Leader Robin Cook has criticised firms which have scrapped final salary pension
schemes for general staff but kept them for senior executives, reports website
Ananova.

It
said Mr Cook called pensions a "profound and serious issue".

Cook
said he regrets the fall in the number of final-year pension schemes.

"Some
of those companies which have started the erosion of those final-year pension
schemes have not shown any erosion whatsoever in the pensions they award senior
executives," he said.

Labour
MP Bill Tynan (Hamilton S) told Mr Cook that there was "considerable
disquiet" across the country over the demise of the final salary schemes.

Comments are closed.