What Can You Count On in Retirement?

A friend of mine, retired on a company pension for ten years now, was recently sweating it out.

Seems the health insurance piece of her pension could have been negotiated out of the latest contract just finalized between her union and former employer.

Does a company have the right to take away promised retirement benefits? Is it ethical to just pull the rug out from under these people? Many whom stayed at lower paying jobs for the guarantee of a steady, protected income when they retire?

I say no.

They weren’t working all that time for free.

It’s unfair for employers to change the rules so late in the game.  Planned phase out with new employees is fine, but to mess with someone’s hard earned benefits is comparable to stealing.

These retirees fulfilled their end of the bargain for 25 or 30 years.  It’s time for them to get paid.

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