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If you took the pension benefits and aligned that with the lower wages, would it work out roughly the same overall in comparison with workers elsewhere? ie they may get to retire earlier but they make sacrifices (too extreme a word really) in their working life to get that benefit later on.

And in their plans to reduce the pension benefits, are they planning to compensate the workers by increasing the wages so as not to drastically reduce the terms and conditions of the workers?

by In Wales (inwales aaat eurotrib.com) on Fri Oct 19th, 2007 at 02:56:47 AM EST
I wrote the second paragraph in the frame of mind of introducing the pension cuts for new workers (but with current ones remaining on the same package as they are now).

Re-reading the diary it looks as though they intend to remove the pension benefit from current workers.  As Linca says, this is equivalent to cutting pay/wages.

by In Wales (inwales aaat eurotrib.com) on Fri Oct 19th, 2007 at 03:45:17 AM EST
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