Further Pay Cut In April 2012

As if two years of no pay increase in the face of 5% inflation wasn't bad enough. The government have returned with the results of the consultation on pension contributions. You may remember that in 2007/8 our contributions increased, 'once in a generation by 60%'. Well the government has listed to our concern regarding pensions contributions for consultants increasing from 8.5% to 10.9% in April next year. The result of the genuine listening exercise? Contributions will go up from 8.5% to 10.9%.

So there you have it. A further 2.4% cut in addition to next years lack of pay increase. Giving you a reduction of about 17.5% cut in pay over the 3 years.

Still, at least your money has gone to a good cause, thank God the banks are safe. Happy Christmas.