I want most good advises on the pensions.
4 replies (most recent on top)
A pension scheme can be changed at anytime by a UK company, just as BH UK got the new pension a few years ago, that seemed to be a good deal but nothing to say it can't involve lower employer contributions next time.........
That may be the case outside the U.K. We are protected by our European law .
They can most certainly change your benefits. They can change or eliminate pensions and/or 401(k) terms. Ask all the IBM employees in the late 1990's whose pensions were bought out at low-ball prices. It's just a benefit and is not mandated by law to be continued (yes, once the plan is set up it is somewhat protected by law, but a company can cash it out using whatever assumptions it wants and the gov approves on future returns and get rid of it.) However, whatever benefits are available need to be somewhat competitive within the oilfield or it becomes hard to attract or retain employees.
They can't change your benefits it's still bakerhughes or the new bakerhughes as it will be knowing