19 December 2006
Employees of the Royal Household are to have their pensions
reduced after their retirement fund went more than £1m into
deficit. A Royal source said: "This is a huge blow for staff who
work up to 48 hours a week for very little pay. Whenever servants
complain about pay, the employers mention the pension scheme and
the free on-site accommodation as compensations. This has blown a
hole in that argument."
Around 250 Palace staff will have to work years longer or accept
smaller pensions.
