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Impact Investing

IPE special report May 2018


UK unions plan pension rally in June

UK – The Trades Union Congress, the umbrella body for UK unions, is planning a pensions demonstration in London on June 19.

“Trade unionists, pensioners, workers who have lost out in recent pension collapses and others concerned about their pension prospects will take to the streets to call for a new deal for pensions,” the TUC said. A spokesman was unable to say how many would attend the rally.

The TUC is calling for the basic state pension to be linked to earnings and a new occupational pensions settlement based on compulsory contributions from employers and employees.

The TUC said it also wants compensation for employees who have lost pensions following the collapse of occupational funds – who are not covered by the new Pensions Protection Fund.

“We believe in a democratic country everybody has the right to protest,” said a spokeswoman for the Department of Work and Pensions. She added the government had consulted widely on the pension protection fund and believes it has the best solution.

She said that instead of linking pensions to earnings, the government had chosen to target its resources via pension credits. She said it was unlikely that a pensions minister would attend the rally.

TUC general secretary Brendan Barber said politicians of all parties don’t appreciate the depth of the pensions crisis and are avoiding radical action.

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