Reply To: Amex has cancelled all my cards!

[Lady London]

Well the article says the Amex pensioners had 3 increases in the past 10 years and not, compared to many other schemes, low ones.

Many firms don’t give increases beyond the statutory minimum in their DB plans at all, for pre-1997 service, which means zero for many years that may have been worked earlier. And not much where legislation only said not much. So many firms simply don’t give inflationary increases at all related to service in years where the law didn’t force inflationary increases. There’s a recent uproar where BP is apparently wanting to move to the same.

So there are pensions about, and DB pensions at that, where as soon as someone starts taking that pension, that money will never increase for the rest of their life, not for any reason, no matter how high inflation.

There are a few on here who know this stuff professionally so a lot better than me.