Due to downsizing the company had pushed a lot of extra work onto others. I picked up maintenance responsibilities of remote scanners that input data to invoices and created billing. They were a lot more than just scanner data input. I was having all kinds of trouble since the technology was cross platform through Macintosh, Windows and Cisco.
A younger employee was more qualified then I and my supervisor and I had a long hard conversation. It was clearly in the company's best interest I step down so I did. My supervisor did not reduce my pay but asked me to be patient for a month or so. Sure enough when the next situation came up I was offered a better position that was more in line with my skills. The new position didn't have all the "extra" responsibilities pushed onto it. The entire move worked out very well for everyone.
But I have to point out that my situation is very rare. In most instances the companies seem to want to roll out maturity and bring on youth at reduced rates and benefits.