LOCAL GOVERNMENT PENSIONS

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LOCAL GOVERNMENT PENSIONS. Why we are balloting. The Government wants you to pay more, work longer and get less in retirement Pensions are deferred pay – so this is just another pay cut - PowerPoint PPT Presentation

Text of LOCAL GOVERNMENT PENSIONS

  • LOCAL GOVERNMENT PENSIONS

  • Why we are ballotingThe Government wants you to pay more, work longer and get less in retirement

    Pensions are deferred pay so this is just another pay cut The NUT has already taken action in schools were also part of the alliance of local government unions defending the LGPSVote YES in the ballot if you want to keep a decent pension scheme

  • The Governments agendaPay more, work longer, get lesshigher contributionshigher normal pension ageslower accrual ratescareer average pensionslower pension increases in retirement

  • Our campaign so farNegotiations with Government since April - but little or no progressNUT, ATL, UCU strike in schools 30 JuneTUC Congress up to 20 unions declare for actionEducation unions lobby 26 OctoberJoint petition - www.decentpensions.org.ukPlanned national action if necessary on 30 November

  • The NUTs LGPS ballotMembers in school improvement and support servicesBallot covers those eligible for LGPS membershipBallot opens 20 October, closes 16 NovemberMembers with unclear records have been contacted by NUT Anyone not receiving a ballot paper should still contact us

  • The attack - the long termGovernment proposing changes to all public sector schemes from 2015Normal pension age to rise to 66 and eventually 68Career average basis for future accrualCPI not RPI increases (already implemented)Higher employee contributions assumedLower pension accrual rates

  • The attack - the short term (1)Government wants 900m "savings" from LGPS before 2015No justification for this from scheme valuationsLGA and Pickles refusing to acknowledge savings already accruing from workforce reductions or from the RPI CPI switch

  • The attack the short term (2)LGA proposes changes from 2014:Normal pension age to rise to 66 for everyone immediately faster than Government plansContributions increase for all over 15,000 - this means 2.5% more for most NUT members, on top of current 6.8% or 7.2%Or pay the same and get a 1/68th pension not 1/60th almost 15% less

  • The attack the short term (3)Government proposes changes from 2012 :Approach 1: 450m from contribution rises a 1.8% to 3.5% increase for NUT members; and 450m from cutting accrual rate to 1/65th; orApproach 2: 300m from contribution rises a 1.6% to 3% increase from NUT members; and 600m from cutting accrual rate to 1/67th

  • Vote Yes - support the actionOur aim: to persuade the Government to negotiate in good faithVote Yes and support the actionMeet with colleagues and contact other unions (Unison, Aspect, AEP)Take part in strike activities on the dayShow the Government its proposals are unacceptable.Stay involved in the Unions campaign

  • Find out morewww.teachers.org.uk/soulburywww.teachers.org.uk/pensions

    NUT's pensions loss calculator for Soulbury officersBriefings on the Governments attack on our pensionsUpdate reports on the LGPS