Those working in the public sector – teachers, nurses, civil servants, doctors, police – will all see employer contributions to their pensions – regarded as one of the most valuable parts of their remuneration – capped to bring them in line with private sector pension schemes.
Pensions - regarded by many people as sacrosanct - are in the spotlight and under fire in the United Kingdom after that vote for "Brexit". Joining up the dots on this issue will be even more complicated for the country's political and business leadership which is facing high levels of public anger and diminished trust.
Auto-enrolment pensions are regarded by policy makers as a good example of "nudge theory" in action, whereby the option of doing nothing produces a positive outcome.
It demonstrates the complete collapse of trust between them that the work and pensions secretary regarded the prime minister's suggestion not as a sincere offer to try to find a compromise but as a malicious trap.
In these conditions, they should have done more" regarding pensions, said Elsa Fornero, the scientific coordinator of the Centre for Research on Pensions and Welfare Policies at the University of Turin.
When Pennie joined the company in April 2014, she would have been made aware of her options regarding pensions arrangements as part of her induction.
Principally at issue was the Greek refusal to implement policy changes regarding pensions, labour rules, and taxation that met with the troika's approval.
So there is a lot to be done, particularly if you have strong opinions regarding pensions.
At fault is the lack of consistent laws regarding pensions across countries: Some don't allow people who take positions outside of their native countries to pay into the system during years spent abroad, and others even penalize them for leaving by cutting their pension payouts drastically.
Regarding pensions, the root of the crisis is in the gambling casino known as Wall Street and the failure of government to regulate it.
