Boots Pension scheme
Before setting up PL-UK I worked for Boots for 8 years as a relief manager, pharmacy manager and eventually store manager. Even then, in 2004, many of the more experienced managers were staying with Boots for one reason, the pension scheme. After the dot.com bubble burst, Boots were the only FTSE 100 company who had enough money in the pension scheme due to their foresight in pulling out of stocks and shares and moving all the funds to high quality bonds before the bubble burst.
So how do those same experienced managers feel now that Boots are trying to change the goalposts on them? Betrayed, annoyed, surprised? I would guess the first two but not the last.
It comes as no surprise nowadays when a company closes it’s final salary pension scheme as it’s happened so often but I do feel for my ex-colleagues. So what should they do?
To be honest, I don’t think there is a right answer. I would happily take them on to my agencies books as the vast majority are highly capable pharmacists who are professional, reliable and up to date with CPD. However, in terms or retirement planning, they are still probably safer working for Boots as “private” pensions are even more of a minefield than company pension schemes.
Having said that, if there are experienced pharmacists out there who decide that this is the last straw, give PL-UK a ring on 0333 123 3344, we’d be delighted to get you on board.
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