Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: https://www.socialistparty.org.uk/issue/974/26580

From The Socialist newspaper, 6 December 2017

BT pensions review - oppose the attacks on the pension schemes

BT, photo Panhard/CC

BT, photo Panhard/CC   (Click to enlarge)

Socialist Party members in the CWU

A 60-day consultation is taking place to make changes to several BT pension schemes. The company proposes that, for managers, the defined-benefit BT pensions scheme is closed to future benefits and they revert to the 'money purchase BT retirement savings scheme'.

The proposal for team members is they pay more in for less when they retire and that pension rises no longer keep up with the retail price index (RPI).

Instead, this is to be reduced to the lower consumer prices index (CPI). Or these two schemes could close.

Furthermore, in a cut to workers' deferred pay, those benefits already built up or for retired workers will have their income cut to the lower CPI measure.

In a further twist, the company proposes that they revert to the legal minimum rise allowed in law for increases to keep pace with the cost of living, 2.5%.

And the lump sum for service would be removed after April 2018.

Clearly, the proposal that managers as a group see their access closed is an attempt to divide the workforce.

This must be opposed and joint campaigning by trade unions the Communication Workers' Union (CWU) and Prospect should be initiated.

Correctly, the CWU is advising members to reject all the options presented by the company. The union points out that BT made over 7.5 billion in profit last year and paid out more than 1 billion in dividends to shareholders.

Branch meetings are now being planned as part of the campaign of opposition.

Socialists in the CWU demand:

Why not click here to join the Socialist Party, or click here to donate to the Socialist Party.


In The Socialist 6 December 2017:


NHS

Glenfield victory shows people power can save our NHS

Tyneside walk-in closures postponed after rally


Socialist Party news and analysis

Nationalise rail now

End Tory war on poor

Rough sleeping crisis: make homes, not arrests

Royal wedding exposes them-and-us visa system

RBS to sack 1,000: nationalise the banks

Branson sues NHS: kick out the profiteers


Women

Fighting sexism, violence and capitalism - an international struggle


What we think

Corbyn's Labour can defeat Tories with socialist programme

Labour council Blairites deselected


Socialist Students

Demonstrations by uni students and staff greet Bath vice-chancellor resignation

Liverpool John Moores Uni landslide for Socialist Students

TUSC conference to debate 2018 elections

Plans to launch no-cuts campaign at Kirklees College

Coventry Socialist sales hit 1,000

Waltham Forest Universal Credit protest

Court maintains injunction against fracking protesters


Socialist readers' comments and reviews

Dramatic retelling of Grunwick strike hits all the right notes

Blairite horror and Labour's divisions graphically exposed

Comment: Socialism and truth about Zane

The Socialist Inbox


Workplace news and analysis

PCS Left Unity celebrates 40th anniversary at annual conference

Brutal rail privateer Abellio takes over Midlands rail services

School staff strike against privatisation

Driving examiners walkout hits first day of new test

BT pensions review - oppose the attacks on the pension schemes

Arriva bus strikers stand firm


International socialist news and analysis

Irish capitalist state: rotten to the core

Mobilise to stop bigoted billionaire Donald Trump's state visit to Britain

Trump's tax plan: Robin Hood in reverse


 

Home   |   The Socialist 6 December 2017   |   Join the Socialist Party

Subscribe   |   Donate   |   Audio  |   PDF  |   ebook






Related links:

Pensions:

triangleSupport for Putin's regime dips over major attacks on state pensions

triangleMinister's benefits lie: sack the Tories - and scrap universal credit

triangleMiners demand end to pensions robbery

triangleCongress shut down by staff walkouts

triangleUCU conference: Build the union, build the struggles!

Review:

triangle'Lucas Plan' film tells story of workers who set out alternative to job losses

triangleEnthusiastic response to new podcast

triangleDetermined UCU strikers: We're out to win!

triangleTV review: Abortion on Trial - hard-hitting look at impact of 1967 act

Pension:

triangleBritish Gas workers need rank-and-file leadership

triangleUCU: General secretary censured but anti-union laws frustrate strike ballot

triangleThe Socialist inbox

BT:

triangleBT can afford more - reject pensions offer

triangleBosses' pensions robbery

CWU:

triangleVictory for democracy at CWU 'redesign' conference

Telecoms:

triangleTories may have broken election laws... again

Reports and campaigns

Reports and campaigns

14/11/18

Socialist

The Activist issue 78

14/11/18

Swansea

Welsh Socialist Students campaign and meet in Swansea

14/11/18

Leeds

Leeds meeting backs striking rail guards

14/11/18

Newham

Newham by-election: We need anti-austerity councillors

14/11/18

Mansfield

Mansfield: keep our park open!

14/11/18

Haringey

Haringey's 'Corbyn council' must refuse to make cuts!

14/11/18

NEU

National Education Union: vote for action on funding

14/11/18

CWU

Victory for democracy at CWU 'redesign' conference

14/11/18

PCS

PCS union members: why we're backing Chris

14/11/18

Gas

British Gas workers need rank-and-file leadership

14/11/18

Unite

TGI Fridays strike wins control of tips

13/11/18

Socialism

Latest Socialism podcasts

13/11/18

London underground

Tube strike solid against victimisation

9/11/18

Socialist Party

Socialist Party branches

8/11/18

TUSC

TUSC suspends electoral activity

triangleMore Reports and campaigns articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party
Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

LATEST POSTS

CONTACT US

Phone our national office on 020 8988 8777

Email: info@socialistparty.org.uk

Locate your nearest Socialist Party branch Text your name and postcode to 07761 818 206

Regional Socialist Party organisers:

Eastern: 0798 202 1969

East Mids: 0773 797 8057

London: 020 8988 8786

North East: 0784 114 4890

North West 07769 611 320

South East: 020 8988 8777

South West: 07759 796 478

Southern: 07833 681910

Wales: 07935 391 947

West Mids: 02476 555 620

Yorkshire: 0114 264 6551

ABOUT US

ARCHIVE

Alphabetical listing


November 2018

October 2018

September 2018

August 2018

July 2018

June 2018

May 2018

April 2018

March 2018

February 2018

January 2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999