Counterfactual #4


As things stand, I got made redundant from Allied Steel & Wire and, after joining British Steel, transferred all of my AS&W pension funds into the British Steel Pension Scheme. But what if I had managed not to be made redundant, or having been made redundant, found a job in a place where the pension scheme was not so well regarded as that of British Steel?

In the first case, I would have continued to build my pension in the AS&W scheme until the company’s collapse in 2002, in the second case, chances are that I would have left my money built up until 1995 in their scheme. And in both cases I would lost it all, or at the very least most of it.

Meaning that, if I managed to find a job either after the redundancy or after AS&W’s collapse, I would have to work until at least age 65 in order to build up a pension of a suitable size. At the age of 40 I would have rated my chances of finding a new job pretty good, but if I hadn’t pulled it off, I might have considered the offer of my sister in Australia, and emigrated there with her as a sponsor.

Unlike earlier counterfactual speculations, the possible outcomes of this one is becoming harder to predict, and presumably that will become even more so with future counterfactual blogs that delve deeper into the past.

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