Protect pensions

I remember more than 50 years ago, following the yellow line through the stores at Williams Brothers, Green Lane, to nail and rivet, or any of the other colours to various areas.

Monday, 24th October 2016, 6:06 am
Updated Tuesday, 25th October 2016, 3:01 pm

I remember passing the time of day with the most friendly of staff, machine shop in the back to make you any odd fixing you might require, brilliant staff, so knowledgeable about their own departments.

Watching its slide over the years has been sad.

Now to read Monday’s headlines, informing us of Williams’ receivership.

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The staff’s reward has been to lose their jobs and their pensions. Some reward for staying loyal without a rise for five years.

Is it a coincidence that if you add up the cash the senior mis-management drew in the last year, it adds up to almost exactly the shortfall in the faithful employees pension fund deficit of £689,000.

Cynical people might construe that it was the only cash left available so they took it all.

Why are company pension schemes not ring-fenced to protect employees pensions from greedy employers?


Peter Sellars

by email