kraftiekortie wrote:
In the vast majority of cases, if the government changes the pension, those changes apply only to people hired after the changes have taken effect.
For example, there's been a few changes in our pension system--however, since I was hired in 1980, what applied in 1980 is what applies to me now, not what applied after the 2012 changes.
I know what you mean, and things could certainly be a lot worse in this area.
But they've already changed the method of inflation-indexing (in their favour, of course) for Public Sector pensions, and that applies to all members and all past contributions. You probably know how the Reagan and Clinton administrations "improved" the methods of calculating US CPI in the 1980s and 1990s, and this is very similar.
They're also raising the age at which the State Pension (Social Security in US) can be claimed. Some people will never receive it at all as a result.