Superannuation Bill

Memorandum submitted by Alan Robson (SU 66)

I work for One NorthEast which like all of the Regional Development Agencies is due to be abolished by March 2012 when there will is a strong possibility that I will be made redundant either in March 2012 or before. I have worked for One NorthEast for over 10 years since February 2000 in the ICT department and I have recently turned 50 years old.  I have been lead to believe that under the old Civil Service compensation scheme I would have able to draw my pension and receive a lump sum on redundancy and another lump sum at 60.  However under the new scheme I appear to be much worse off and would only be entitled to a capped lump sum and a pension I will be unable to draw and will be frozen until a future date (i.e. when I turn 60) and even then this likely to be significantly reduced by the pension review which is under way.  Given that Northeast is heavily dependent on the public sector my chances of finding alternative employment will be low and these changes are likely to cause me significant hardship.

September 2010