Monday, July 23, 2007

Members endorse new look pension scheme

In an unsurprising result the new-look Local Government Pension Scheme has been massively supported in the membership ballot. Now there is a UNISON policy to support the new-look LGPS because now our members have spoken. Democracy means the maximum freedom to express opinions before decisions are made – now that the decision has been made we move on and carry out the decision.

We now need to ensure that there is maximum response to the consultation on extending protection for LGPS scheme members who will be 60 on or before 1 April 2020 – see LGPS Bulletin 64 for details.

Responses to CLG formal consultation on extending the protection to 2020 should be sent to: Nicola Rochester, Zone2/F7 Ashdown House, 123 Victoria Street, London, SW1E 6DE. Email to nicola.rochester@communities.gsi.gov.uk

Former Deputy Prime Minister John Prescott made a commitment that up to 50% of the savings arising from the removal of the 85 Rule on service after 2008 - and the provision to allow members to exchange more of their pension for a higher lump sum at retirement - could be ploughed back into the new scheme.

UNISON has calculated that, even with the improvements and the existing protections for the Rule of 85, less than 50% of the savings have been used. This means that the minimal cost of improving the protection simply removes the imbalance between the saving to the employer/taxpayer and the increase in the cost to the member.

Because of course we will (on average) be paying more for our pension from next April, as we enter the second year of the Gordon Brown pay freeze…!

Apologies (btw) for lack of posts but not only do I have an appeal hearing to prepare but I had to take time out to read the new Harry Potter book. Clearly Voldemort represents the forces of capitalist globalisation, whilst Harry embodies the fighting spirit of the working class. The Deathly Hallows symbolise the potential power of unity amongst the public service trade unions in the fight over pay…

2 comments:

Anonymous said...

I anticipate that there will be an expanded critique on the HP theme in LLB? Without of course giving away any endings?
Kat

Anonymous said...

'Democracy means the maximum freedom to express opinions before decisions are made '

what a shame that unison did not abide by this norm of the labour movement, threatening disciplinary action against those who dared campaign for a no vote

i voted no and campaigned for a no vote.
they have sold this as a good deal just like single status!

shame on the prentis clique!

fraternally

Z
from somewhere north of watford