Superannuation Bill

Memorandum submitted by Alison Armstrong (SU 69)

I currently work for the Regional Development Agency One North East and am a 4 6 year old PCSPS Scheme member, who has been in the scheme since 2002, totalling almost 9 years.

The proposed change and suggested cap will result in a reduction of almost half of my existing redundancy entitlement. Surely this cannot be allowed to happen – I signed a contract in 2001 which said I’d be entitled to £x and have now been told tha t that figure will almost halve meaning that I’ll lose out on around £20,000 of money which I am entitled to.

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.

September 2010