Pensions

Unions must fight pension age increase!

Submitted by AWL on 26 July, 2017 - 9:18 Author: Dave Pannett

If like me you’re between 39 and 47 years old then the recent government announcement that you will have to work 18 months longer before you can retire will have angered and depressed you. Yet again as the government has moved the goalposts for workers. An increase in the retirement age to 68 was due to apply to people born after April 1978. The government now says the new standard of 68 will be introduced in 2039, which will affect those born between April 1971 and April 1978.

Temer versus the workers

Submitted by Matthew on 29 March, 2017 - 10:02 Author: Luiza Lago

On 22 March, Brazil’s coup government of Michel Temer brought forward a law, previously shelved, to legalise the expansion of outsourcing. Businesses will now be able to outsource workers for their primary activity (for example, teachers in a school). Government owned institutions can now use sub-contractors, opening the door for private sector interference in nationalised sectors.

Defend EU migrants’ right to stay!

Submitted by Matthew on 8 March, 2017 - 10:42 Author: Editorial

The House of Lords has voted by a large margin of 102 in favour of guaranteeing the rights of EU citizens in the UK after Brexit. With 358 in favour to 256 against, the Lords backed an amendment to the Article 50 bill, the bill giving the Prime Minister the power to trigger the Brexit process.

Four times more unequal

Submitted by Matthew on 15 February, 2017 - 11:08 Author: Colin Foster

According to the Financial Times (13 February), even big business people are starting to think that top-manager pay has gone over the top. Don’t expect anything too socialistic, but “long-term incentive plans” are being looked at more sourly, as research results heap up to show that the “incentives” have little correlation with business success.

The FT reports that top bosses now get an average of £4.3 million a year.

Who profits from your pension fund?

Submitted by Matthew on 29 June, 2016 - 12:30 Author: Rhodri Evans

Railpen is the pension scheme covering 500,000 current and former railworkers in Britain. According to a new book, What they do with your money, reviewed in the Financial Times on 18 June, it used to believe it was paying £75 million a year to financiers to manage its funds.

Then it probed further, and found that £290 million was being sucked out of the pension fund each year in fees for “fund managers”. Over 30 years, for example, that would be £9 billion, or over 40% of the total value of the fund.

Who profits from your pension fund

Submitted by martin on 21 June, 2016 - 5:47 Author: Martin Thomas

Railpen is the pension scheme covering 500,000 current and former railworkers in Britain. According to a new book, What they do with your money, reviewed in the Financial Times on 18 June, it used to believe it was paying £75 million a year to financiers to manage its funds.

Then it probed further, and found that really £290 million was being sucked out of the pension fund each year in fees for "fund managers". Over 30 years, for example, that would be £9 billion, or over 40% of the total value of the fund.

Industrial news in brief Matthew Wed, 06/17/2015 - 12:34

Strikes over privatisation continue at Bromley Council.

Workers are on strike between 10-20 June in a series of selective strikes. Unite members in adult services and transport workers will strike from 10-15 June, library staff between 13-20 June and central council workers on 16 June.

The council's cuts plan involves outsourcing most of its services, reducing the number of council employees from 4000 to 300, and privatising 14 libraries. Unite, Unison and community campaigns organised a march through the borough on Saturday 13 June.

Re-start the pensions fight; save the NHS - AWL UNISON activists' bulletin, June 2006 cathy n Sat, 05/24/2014 - 23:42

The first-ever issue of an activists' bulletin for UNISON members produced by AWL UNISON members is now available. Covering the latest developments in the local government pension scheme campaign, and the urgent need for UNISON members to organise to defend the NHS, it is essential reading for UNISON members.