UK - Amicus, the UK's largest private sector union, said it will back members who chose to strike in order to save their pensions.
According to Amicus round 90% of workers would favour strike action if their employers tried to cull their final salary schemes or slash contributions in a bid to cut costs.
Other key findings included:
- around 99% employees believed that final salary schemes were the only way to guarantee an adequate income in retirement;- 97% of respondents thought that the next generation of employees would have inferior pension income and may have to work longer or take out expensive and risky private pension schemes.
The union also believes that money purchase schemes have been discredited by the low employer contributions, with a typical defined benefit scheme generating a pension 40% lower at age 60 than a typical final salary scheme
Amicus’ general secretary Roger Lyons said: “We will not stand by and watch employers steal our members retirement income nor force a future generation into poverty in old age.”
Lyons added said: “Diversions are already being created to help employers wriggle out of their moral responsibility of providing decent pensions.
“’We must work longer,’ ‘we must pay more’, there’s no mention of fat cat pay being cut back or the rights of pension scheme members being enshrined in law.”
Amicus said that it has been pressing the Government to protect pension schemes and income including pensions being brought within the scope of contracts of employment, established as being covered by trade union recognition and negotiating procedures and protected in TUPE business transfers. The union added that it had received “no indication” that demands were being met and would take the issue to the Labour Party conference in September.
By Madhu Kalia
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