The GMB union has exposed the Tories’ lies over pensions. The government said that it had made changes to its reforms that meant some workers would be better off. The GMB says this is “misleading propaganda”.
The union looked at three case studies used by the Treasury. One study looked at a school dinner lady in the local government pension scheme.
It found that these workers could lose nearly £700 every year if the government’s changes go through.
The case study was of a worker earning £8,000 a year part time, having worked five years and being 45 years old when the new scheme began.
Under the current scheme, if the worker retired at 65 she would get £3,333 a year. The government changes would cut this to £2,933—a cut of £400.
If the worker retired at 68, she would get £4,551 under the current scheme. If the government gets its way this would fall to £3,879—a cut of £672 a year.
On top of this, the GMB estimates that she would have paid an extra £5,500 in contributions.
The PCS, Unite, NUT and UCU unions, together with the National Pensioners Convention, have produced a briefing on public sector pensions. Download it here: http://bit.ly/sEqhZV