Vote for a DB (Defined Benefit) employee too

From Mnd

It’s no secret that only around 20% of Defined Benefit members transferred to the Enhanced M Plan. Given that 80% decided that the Enhanced M Plan hadn't been designed for them, you might well ask for whom it had been designed.

It's also essential to have an active member of the C, N or I Plans on the board, as the value of these schemes has been damaged most in recent years. Not only have the employee contribution rates been increased, but the proportion of our salary that is pensionable will decline over time, assuming we receive some pay increases.

Despite the offer of the Enhanced M Plan, over four and a half thousand of us decided it hadn't been designed for us, and we chose to stay in our defined benefit plans. Our interests need to be protected. Voting a DB plan employee onto the board doesn’t guarantee that protection, but it will help.