Tuesday, June 22, 2010

Unison's Retired Members under attack!

A Labour Party comrade suggested looking at the news releases from PWC for a swift and accessible summary of key points from today's Emergency Budget.



Why not?



In a medieval battle archers were expected to fire the enemy's arrows back at them!



PWC make clear that the Chancellor has today made a subtle but significant attack upon the future living standards of all retired public servants (http://www.ukmediacentre.pwc.com/News-Releases/Emergency-Budget-2010-PwC-comment-on-Public-sector-pay-and-pensions-ec4.aspx).



Using the Consumer Prices Index (CPI) rather than the Retail Prices Index (RPI) as the basis for the annual uprating of the pensions of those already retired will - on past performance - tend to drag down the value of public sector pensions (including for those who are already retired). So much for the principle that accrued benefits are safe!



Had that policy been in force this year, existing pensioners would have seen a significantly smaller increase in their pension.



Unison's Retired Members are under attack - yet I don't think they precipitated the financial crisis that got us into this mess.



All members - working and retired - need to unite in campaigning against these attacks and in support of Unison's Alternative Budget. Branches need to draw upon the skills and experience of our retired members now more than ever!

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