Willow Posted January 23, 2009 Share Posted January 23, 2009 Just feeling really fed-up today. Company I work for has gone into administration. I've still got a job but no idea how long for. Pension fund melted down which is the worst part I have my dream house and garden in a nice friendly village with the sort of neighbours where we all pop next door for flour etc if we run out whilst cooking rather than going to the shops. We still have years of work left on house and garden but had planned to never move away from here so no hurry but I suspect now we'll have to sell when we retire to get money to retire on. Still a good few years off retirement yet so time to recover I guess but now it's an unknown... However the company have been quick to remind us that we are bound by confidentiality rules so we're not to talk about it (ok on here as anonymous and I've never mentioned the name of the company I work for but even with that I feel like I can't say any more) Quote Link to comment Share on other sites More sharing options...
Phoebe Posted January 23, 2009 Share Posted January 23, 2009 Poor you - its happening to lots of people but that does n't make it any better. I m glad you have the home you love though. I don't think any of us know whats round the corner at the moment (including the govt) so perhaps we should all sit tight and hope for the best as regards our ftures and pensions etc. Something may turn up. You do have my sympathy though - even if the above is a load of meaningless Tosh ! (( HUGS )) Quote Link to comment Share on other sites More sharing options...
Seagazer Posted January 23, 2009 Share Posted January 23, 2009 I'm sorry to hear that. My OH has been made redundant a couple of times and it is horrible. He managed to get another job each time though so please don't think its the end of the road even if it feels like it. You never know, someone might come up with a rescue package. Best of luck. Quote Link to comment Share on other sites More sharing options...
Leicester_H Posted January 23, 2009 Share Posted January 23, 2009 So sorry to hear this - ((HUGS)) from me too, H Quote Link to comment Share on other sites More sharing options...
chickencam Posted January 23, 2009 Share Posted January 23, 2009 Sorry to hear your news Hopefully things will work themselves out for you, just take one day at a time. Best wishes to you. Quote Link to comment Share on other sites More sharing options...
Egluntyne Posted January 23, 2009 Share Posted January 23, 2009 Sorry to hear it. Quote Link to comment Share on other sites More sharing options...
surferdog Posted January 23, 2009 Share Posted January 23, 2009 Sorry to hear this Patricia. Don't lose hope yet - if they are in administration rather than liquidation the administrators will do all they can to keep the firm going and sell as a going concern. Prepare for the worst but expect the best. Quote Link to comment Share on other sites More sharing options...
jackiepoppies Posted January 23, 2009 Share Posted January 23, 2009 So sorry to hear your news. My thoughts are with you. Jackiex Quote Link to comment Share on other sites More sharing options...
Willow Posted January 23, 2009 Author Share Posted January 23, 2009 Thanks for the sympathy To be honest the job situation doesn't worry me too much as there's always something - it's losing the pension that hurts Quote Link to comment Share on other sites More sharing options...
KimmyCustard Posted January 23, 2009 Share Posted January 23, 2009 I bet it does. Poor you. Virtual hugs coming your way. Kimmy x Quote Link to comment Share on other sites More sharing options...
poachedegg Posted January 23, 2009 Share Posted January 23, 2009 Really sorry to hear your news.....what a bummer. Quote Link to comment Share on other sites More sharing options...
Cinnamon Posted January 23, 2009 Share Posted January 23, 2009 I am sorry Patricia. So many people are having a tough time at the moment. Try & keep smiling Quote Link to comment Share on other sites More sharing options...
BarbaraJ Posted January 23, 2009 Share Posted January 23, 2009 (edited) i can sympathise, hubby works for General Motors , i'm sure most people who watch the news will have seen that name alot lately. We have been rather lucky that although hubby has had about 28days shut down since beginning of dec because he is not working shifts he gets full pay. those working shifts get no shift allowance thats alot of money less each month! The latest is that they might have to take a pay cut, we could just about cope with the preposed amount but hubby is looking desperatly for a new job! Edited January 24, 2009 by Guest Quote Link to comment Share on other sites More sharing options...
Chillicat Posted January 23, 2009 Share Posted January 23, 2009 Sorry to hear your news. I sympathise with the pension business. The company I work for stopped their pension scheme last year and I now have a private one. If you have a company pension, get in touch with the trustees for advice. Hopefully you will find a solution that will suit you. I'll have a glass of wine for you tonight.....its the weekend! Good luck! Quote Link to comment Share on other sites More sharing options...
Charlottechicken Posted January 23, 2009 Share Posted January 23, 2009 So sorry to read your bad news Patricia Quote Link to comment Share on other sites More sharing options...
jess Posted January 23, 2009 Share Posted January 23, 2009 That's terrible news, I'm so sorry. The worst part is all the uncertainty surrounding it you can never rest. I hope you get all the details soon and are able to work through it. Quote Link to comment Share on other sites More sharing options...
Willow Posted January 23, 2009 Author Share Posted January 23, 2009 If you have a company pension, get in touch with the trustees for advice. Yes it was the Company pension - trustees let the company get away with putting in a fraction of what it nows seems should have been put in and now never will be put in Filing for insolvency appears to let them all off the hook. I know lots of other people are in the same position and some are worse off. Fortunately it looks like those that are due to retire soon will get most of what is in the pot, at least the rest of us have time to replan. I'm starting to think my dads approach might have been right. Have plenty of kids and no money into a pension. Only trouble is he won't let his kids help fund their retirement (and it's too late for me to have more kids ) Plan B is going to have to be keep paying for the house and become as self sufficient as poss when I retire so I don't need that pension ! wonder what my neighbours would think if I started raising pigs in the front garden Quote Link to comment Share on other sites More sharing options...
redhotchick Posted January 23, 2009 Share Posted January 23, 2009 Sorry to hear this. Is there not a government compensation scheme for cases where company pension schemes have gone bump? Perhaps I am being overly optimistic. Quote Link to comment Share on other sites More sharing options...
