Date: Friday 27 February 2009
Real pension divide is between bosses and staff - UNISON
In the wake of the news that Fred Goodwin has already started
drawing a pension of £650k per year, UNISON - Scotland's public
service union - says that this highlights the real pensions
divide in the UK economy.
A briefing by the union issued today (27 February), summarises
information from the Pensions Policy Institute, the National
Association for Pensions Funds and the TUC to point out that
the majority of company directors can retire at 60, with a final
salary pension 25 times higher than the national average which
they accrue twice as fast as both their workforce and the public
sector workforce.
Dave Watson, UNISON's Scottish Organiser, said "This information
from independent sources, shows that those with the real gold-plated
pensions are private sector directors. The very people who are
leading the clamour to attack the pensions of low-paid, hard
working public service staff. Fred Goodwin's pension is simply
one example - the top directors in FTSE 100 companies averaged
a pension of £333,664 p.a. in 2008 - and this figure has gone
up by 4% since the previous year."
In addition - despite the manipulated statistics put out by
organisations like the Taxpayers Alliance - public sector workers
tend to pay more into their pension than private sector staff,
and accrue their pension at the same rate as staff in the private
sector. However the pension for new entrants to public sector
pensions is only similar to a medium private sector final salary
scheme.
Dave Watson said "The Taxpayers Alliance, and other private
sector-sponsored campaign groups again spit their vitriol against
public service workers. For example, local government workers
like classroom assistants, home carers, social workers, refuse
collectors, and dinner ladies, contribute all their working
lives to gain a pension that averages just £3,800 pa, yet the
Taxpayer's Alliance, would apparently prefer them to have that
pension cut and force them to rely on state benefits."
"They would be better employed directing their firepower at
the real gold-plated pensioners. Big business bosses who award
themselves generous pensions while closing decent schemes for
their staff. But they won't of course, because this would be
biting the hand that feeds them."
ENDS
Note for editors: The briefing from UNISONScotland is
available from either contact below, or on the Scottish website
- www.unison-scotland.org.uk/briefings/198pensionsupdate.pdf
For Further Information Please Contact: Dave Watson
(Scottish Organiser) 07958 122 409(m) Chris Bartter (Communications
Officer) 0771 558 3729(m) Index
