Labour MP Luke Akehurst called the issue an “injustice” which not only affected Nissan employees, but other members of direct benefit schemes across the country.<\/p>\n
“Each year they find that because the cost of living is going up, they haven’t got the income that they need in retirement,” he said.<\/p>\n
“There’s a particular unfairness that as people get deeper into their time of retirement, their disposable income is less and less keeping pace with inflation.”<\/p>\n
A Nissan spokesperson said: “By nature, discretionary increases are not guaranteed and any decision that the trustees make on it must take into account all relevant factors.”<\/p>\n
Akehurst said he planned to put pressure on the government to change the pre-1997 law.<\/p>\n
The Department for Work and Pensions (DWP) said it was working on pension reforms which included giving trustees of well-funded defined benefit schemes more flexibility to negotiate improvements for members.<\/p>\n","protected":false},"excerpt":{"rendered":"Labour MP Luke Akehurst called the issue an “injustice” which not only affected Nissan employees, but other members…\n","protected":false},"author":2,"featured_media":405106,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[138,246,111,139,69,244,245],"class_list":["post-405105","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-new-zealand","tag-newzealand","tag-nz","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/405105","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=405105"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/405105\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/405106"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=405105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=405105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=405105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}