Defend Our Pensions!

Submitted by Tubeworker on Thu, 08/29/2013 - 16:22

Our bosses have shown their hand and stated that they intend to close the TfL Pension Fund to new entrants. This will mean that new starters get enrolled into an inferior scheme, and also spells disaster for current members - the Fund will shrink and become less secure, inevitably leading to attacks on the benefits we can expect to receive from it.

The pretext, of course, is saving money. And management hope that we will be short-sighted enough to think that "we're alright" as only future workers will be excluded. Maybe they get this idea because some other unions in other industries have fallen for it.

But current workers are very much affected - in a very detrimental way. It stands to reason that as people retire and make a claim on their pension, then we need new people coming in to replenish the stock of money.

Moreover, these 'future workers' are our kids and the youngsters in our communities. And they will stand alongside us on the gateline and sit alongside us in the canteen. Just ask Tube Lines workers what happened after their employer closed the Fund to new members - many existing members thought it would not affect them, but as a two-tier workforce opened up, they lived to bitterly regret that view.

We need unity and solidarity - including inter-generational solidarity - to defend our pensions. We also need to go on the offensive, and demand that not only is this attacked dropped, but that all London transport workers should be allowed to join the TfL fund - including those working for private contractors who are not currently allowed to join.

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