Bonnielass
Registered User
- Messages
- 24
Its a Defined Benefit Scheme. All other companies prior to this new company taking over have honoured this. This new company wont and hes at a loss at what to do. There have been no new employment contracts signed or anything in writing to alter what has previously stood for the last 32 years. He has no clue of his legal standing and is being fobbed off from "seniors" in the company only verbally saying they dont have to honour anything that has gone before them. All verbal, nothing in writing.Is your Dad's pension a Defined Benefit scheme (i.e. he was promised a fraction of his salary for every year he worked) or a Defined Contribution scheme (Company and Employee invested a certain amount each pay period, with no guarantee of what the pension would be at retirement)?
Im not sure what the term is but he was the person in charge of monitoring the pension fund for some of the employees. Anyway throughout the years as one by one various people retired and various companies have taken over the "business", hes now the last one in this particular pension fund. Apparently there is a €30k shortfall in the fund, meaning my Dads pension is short €30k.
He was the trustee for the duration of his employment there.Was he a trustee
Presumably he didnt think itd be an issue seeing as all other companies prior to this upheld the conditions of the pension fund. Hes the last one left.why was the fund allowed to fall into a 30K shortfall before any of this came to light?.
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