nick venedi

Tuesday, 30 November 2010

Pensions crisis

I am reproducing Dave Prentis statement found on the Unison website on the erosion in value of pensions.

'This week, news emerged that the value of public sector workers' pensions has dropped by up to 25%. This is due in part to the government's decision to use the CPI rather than the RPI to calculate pension increases.This means the cost of providing public sector pensions has already fallen and workers are losing out when they retire. Further attempts to cut pensions for social workers, teaching assistants and nurses would be unjustified.It's time the government turned its attention instead to the private sector, where two thirds of companies do not pay a penny towards their workers' pensions – leaving taxpayers with a multi billion pound means-tested benefits bill. '

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