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Pension update

As reported widely in news brodcasts today, Government Ministers have announced some limited moves on some pension issues.  It would seem that it is no accident that they chose to do this on the day before our ballot result.

Whilst there seem to be some improvements in the accrual rates and further improvements for those aged over 55, there is NO change in the move from RPI to CPI, the increase in employee contributions of 50%, higher retirement ages, and reduced benefits for many.

The TUC have announced that public service trade unions have UNANIMOUSLY voted to continue, subject to ballot results, to work for strike action on 30th November.

Clearly, UNISON will still take part in talks in individual pension sector schemes and will seek further movement from Government Ministers.

However, the basic position is the Government have not yet moved far enough.

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