Would you accept this offer?

NotAGolf · 23 Nov 2011 at 12:01

For the past few weeks at work there's been talk of our holidays being reduced. Today a proposal was announced:

Current contract:
- 25 days holiday
- No pension
- No denplan

New contract:
- 20 days holiday
- 2% raise
- Pension (we put in 1%, they put in 1%)
- Denplan

That's literally all the info we've been given at this stage, we don't know any more details about the pension or the denplan. Obviously there will be more to follow. Based on that, would you accept it or not? If not, what do you think would be a fairer offer?

cm1179 · 23 Nov 2011 at 12:03

yes and have 5 days off sick

Craig1981 · 23 Nov 2011 at 12:04

Dental plan?? Lisa needs braces!

Rotty · 23 Nov 2011 at 12:05

remove that pension offer from any thoughts as very soon they will legally have to offer you better than that anyway

5 days loss of pay is similar to 2% pay rise but there's the tax implications

denplan is worth little

I would reject it myself

Supercow · 23 Nov 2011 at 12:05

So your work will match your pension contribution 100%, or do you literally meanto the max of 1% ?

jamief · 23 Nov 2011 at 12:05

I wouldn't take it.

tlrBeta · 23 Nov 2011 at 12:06

Excuse me for asking, what type of industry do you work in?

Those terms look pretty poor

cainer · 23 Nov 2011 at 12:07

i expect to die as a gummy 67yo so id say NO

randal · 23 Nov 2011 at 12:07

Craig1981 said:
Dental plan?? Lisa needs braces!

LOL.

Whoop-whoop-whoop-whoop!

tidusjar · 23 Nov 2011 at 12:07

So your trading 5 days holiday for a 2% raise, pension and dental plan...

Rotty · 23 Nov 2011 at 12:08

tidusjar said:
So your trading 5 days holiday for a 2% raise, pension and dental plan...

of which the pension only has value for a very short time due to the new laws coming in

he needs to totally ignore the pension part, it is worthless

yer_averagejoe · 23 Nov 2011 at 12:08

I'd reject that.

SMN · 23 Nov 2011 at 12:10

Reject. What industry? Is it feasible to walk if they dont give you what you want?

tidusjar · 23 Nov 2011 at 12:10

Rotty said:
of which the pension only has value for a very short time due to the new laws coming in

he needs to totally ignore the pension part, it is worthless

Oh I dont know much about pensions so i didn't know how it worked. So a 2% raise and dental plan... I don't think it's a very good offer.

-Ad- · 23 Nov 2011 at 12:10

Reject!

BombayMix · 23 Nov 2011 at 12:12

A pension plan can be valuable put it hugely dependant on it T&Cs and what it will pay out.

Cosimo · 23 Nov 2011 at 12:13

No way with the loss of leave.

Rotty · 23 Nov 2011 at 12:14

tidusjar said:
Oh I dont know much about pensions so i didn't know how it worked. So a 2% raise and dental plan... I don't think it's a very good offer.

in the next year or 2 employers will legally have to provide a contributary pension which is better than he has been offered, I am sure his employer is aware of this and is trying it on

If not then his employer needs to confirm that after this date the 1+1 offered will be in addition to the legal minimums

Rotty · 23 Nov 2011 at 12:14

BombayMix said:
A pension plan can be valuable put it hugely dependant on it T&Cs and what it will pay out.

not when the employer will have to legally provide better than that very soon anyway

Freakbro · 23 Nov 2011 at 12:15

Rotty said:
of which the pension only has value for a very short time due to the new laws coming in

he needs to totally ignore the pension part, it is worthless

NEST is starting in Oct 12, but is phased in over a few years, up to 2016, depending on how many employees the business has, so if it's a small business it wont come into effect for a few years yet.

You can also opt out of it if you want.

Notwithstanding that, 1% and 1% being offered is pretty rubbish anyway and NEST will end up at ~3% and 5%...though they have not finalised the details yet iirc.