Superannuation Bill

Memorandum submitted by Wendy Wills (SU 63)

1. I am a 37 year old PCSPS Scheme member, who has been in the scheme since 1 June 1992 , a total of 18.25 years.

2. As I am an employee of One North East , the Bill, if pa ssed, will affect me seriously. I have worked for One North East since its inception in 1999 and prior to this for Northern Development Company, including an 11 year secondment to Government Office North East.

3. The cap will result in a reduction of in excess of 50% 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 the current economic and employment position in my region and the North East's heavy dependency on the public sector.

4. 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.

5. 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