Enterprise

Written evidence submitted by Steve Cook (ENT 05)

I would like to raise my concerns regarding, the Exit Cap clause of the above bill.

I am currently working for the NDA estate, at Sizewell A Site in suffolk. To which I have had the privilege of doing so for nearly 30 years.

Nothing gave me more pleasure & pride in being part of a team, that delivered safe & reliable electricity to hundreds of thousands of people over many years.

Myself & many of my colleagues were always aware, that the industry would never see us out until the end of our working lives. That is simply the nature of the Nuclear (Magnox) Industry.

However we always had a little bit of comfort, knowing that we had a robust & secure pension scheme in place. So how I always looked at it was this, if I worked hard & stayed loyal to the organisation, there would be a fair reward at the time I would likely be made redundant. Which consequently is very likely to be at the end of March 2016. Due to the current organisation restructuring which is taking place.

To make my point on the 95k Exit Cap.

I can totally see & understand where the government are coming from on this issue. It is wrong that certain individuals (Fat Cats) as they are labelled receive large sums of money, for relative short term work & failing appallingly at the same time.

The government have been very very misleading & clever, as saying they want to put an end to such payouts to the High Earners/Fat Cats !!

I certainly do not consider myself in that category, I'm just a normal/humble hard working chap. This Cap is simply not just aimed at the Fat Cats !! But it is aimed at individuals like myself, who just happen to of contributed to a pension scheme over many years. But the fact I have worked very hard & stayed loyal to one organisation over many years. Which means I am going to be included in this Cap.

Surely a proposal of this magnitude, which will affect potentially hundreds of thousands of people. Should at the very least be staged/phased in over a number of years. So it gives people time to adjust & reassess there lives. Because these proposals are life changing.

I sincerely hope at the various committee stages, the members will look at the issues/ points I have raised. I look forward to see how the bill progresses through parliament.

February 2016

 

Prepared 10th February 2016