Superannuation Bill

Memorandum submitted by Wendy Roddam (SU 58)

I am a 43 year old PCSPS Scheme member, who has be en in the scheme since 13 August 2001 , a total of 9 years.

I began my service in One NorthEast , The Regional Develo pment Agency for the North East and am still currently employed by them.

As an employee in the last years of my service, the Bill, if passed, will affect me seriously.

The cap will result in a reduction of two thirds of my existing entitlement. Because the Coalition have announced the closure of all RDA’s, I will be left without a job, and with little hope of finding alternative employment given my age, lack of qualifications, and the current economic and employment position in my region and the North East's heavy dependency on the public sector. y

Consequently, as a result of the Bills removal of what are considered to be accrued rights, I will be facing severe  financial hardship through no fault of my own.

I urge you to reconsider this Bill and find a fairer way of meeting the deficit. This Bill will have a severe impact especially on those who have been in the PCSPS and CSCS, yet will make a relatively small contribution to meeting the country’s financial needs, which have been caused in large part by the greed of much better remunerated bankers and industry leaders.

September 2010