UNISON calls for attack on 'pension propaganda'

 Print E-mail
Economy
Written by Gary Howes   
Friday, 19 June 2009

As final salary schemes fall the unions mobilise to protect what is left.

 

The UNISON conference being held in Brighton today has called for further vigilance against further cuts to final pension schemes.

The call comes as Dairy Crest (LON:DCG) becomes one of the latest FTSE listed firms to call the end to their final salary schemes.

"Public service workers committed themselves to defending pension schemes and countering the misleading propaganda about them from politicians and media, at the UNISON conference in Brighton today," read a press release covering the conference.

The vocal defence of the final salary scheme comes as unions sense a change in the political landscape as the general election year approaches.

"Just as the largest public-service schemes – local government and the NHS – had put the finishing touches to reforms ensuring their long-term future, “our pensions are under attack again”, noted delegates.

UNISON cited comments from the main opposition parties as being vitriolic: “Comments from Tory politicians like ‘pensions apartheid’ and ‘gilt edged’ and Liberal Democrats calling the pensions ‘unsustainable and unaffordable’ are vitriolic and must be challenged."

 

An excerpt of the press release from the UNISON Conference in Brighton:


“Final salary schemes are one of the great achievements of the labour movement, alongside universal education and health care,” said Paul Gilroy from Newcastle City.

"Yet only 2,000 final salary schemes are still open and we can hear the doors slamming shut.

“They are being replaced by vastly inferior money purchase schemes which are nothing more than a long-term savings account with all the risk on the individual saver. And society at large, the taxpayer, will have to pick up the bill for poorer pension provision.”

“We are seeing another attack on public-sector pensions as ‘a luxury the country can’t afford’,” added Kate Ramsden, Aberdeenshire local government.

“Yet the average local government pension is £3,800 or £74 a week, and without it retired local government workers would be forced to rely on the full state pension. We must challenge these drip by drip attacks.

“Our members pay into these schemes over their whole working life and deserve decent pensions.”

“There are more than £300 trillion in pension investments,” noted Mr Gilroy. “To put that into perspective: if you started spending £100m a day 2000 years ago, you still wouldn’t have spent the first £100 trillion by now, let alone £300 trillion.”

“We are the share owners. It’s our money, our investments, our choices.

“This is a call to arms: it’s time to fight back.”

 
Share this article:
Digg It! Digg it!   Post to del.icio.us del.icio.us   Seed in Newsvine Newsvine   Post to reddit Reddit   Facebook  Stumble It! Stumble It!  

Subscribe to our weekly newsletter for top jobs, news, blogs and more

Get the latest senior finance job roles, news, blogs, features, industry moves and opinion delivered directly to your inbox every week. Sign up here .