Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: https://secure.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:

Donate to the Socialist Party

Finance appeal

The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.

The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.

The government has now ripped up its 'austerity' mantra and turned to policies that not long ago were denounced as socialist. But after the corona crisis, it will try to make the working class pay for it, by trying to claw back what has been given.

  • The Socialist Party's material is more vital than ever, so we can continue to report from workers who are fighting for better health and safety measures, against layoffs, for adequate staffing levels, etc.
  • When the health crisis subsides, we must be ready for the stormy events ahead and the need to arm workers' movements with a socialist programme - one which puts the health and needs of humanity before the profits of a few.
Inevitably, during the crisis we have not been able to sell the Socialist and raise funds in the ways we normally would.
We therefore urgently appeal to all our viewers to donate to our Fighting Fund.

Please donate here.

All payments are made through a secure server.

My donation

 

Your message: 

 


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:

triangleArcadia and Debenhams closures: Nationalise to save jobs and pensions

triangleWhat will the spending review mean for me?

triangleFighting for over 250 jobs that are under threat at the Wales Millennium Centre in Cardiff. Photo M Kamish

triangleTory think tank proposes attack on pensions

Review:

triangleBook Review: Humankind - Dispelling the myth that humans are too selfish for socialism

triangleTV review: Red, White and Blue

triangleReview: Friedrich Engels - Condition of the working class in England

triangleUnions must resist return to austerity

Pension:

triangleFrench workers demonstrating in Paris on 16 January; Over 40 days of strike action have taken place against the government's attack on pensions. Photo James Ivens

triangleFrance: Battle over pension rights continues

triangleWest London Socialist Party: French workers - fighting back against Macron

BT:

triangleOpenreach and EE: Massive vote for action

triangleFight BT redundancies

CWU:

triangleRoyal mail management forced to make concessions

Telecoms:

triangleBattle with BT management needed to win real pay rise

Reports and campaigns

Reports and campaigns

18/1/21

Socialism

Socialism the podcast: 2018 episodes

18/1/21

Socialism

Socialism the Podcast: 2020 episodes

13/1/21

Usdaw

Ryan Aldred: Why I'm standing for Usdaw's EC

13/1/21

Schools

Act together to oppose unsafe numbers and rising workload

13/1/21

GMB

British Gas workers strike against 'fire and rehire' plans

13/1/21

NHS

NHS pandemic warnings ignored - renationalise our NHS

13/1/21

Socialist Students

Refund student rent and fees - fight for free education and make the 1% pay

13/1/21

NHS

Dispatches from the front - health workers speak out

13/1/21

London

Londoners suffer and Khan piles on pressure

13/1/21

PCS

Get stuck in to build a fighting, democratic PCS union

13/1/21

Fighting Fund

Help us fund the fight for Socialism

13/1/21

Trade Unionist and Socialist Coalition

TUSC to hold local elections conference in February

13/1/21

NHS

NHS Emergency - Fight for a fully funded, publicly owned, socialist NHS

13/1/21

Royal Mail

Royal mail management forced to make concessions

13/1/21

Retail

Lockdown 3.0 - fight to make our shops safe!

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: [email protected]

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

Regional Socialist Party organisers:

Eastern: 079 8202 1969

East Mids: 077 3797 8057

London: 075 4018 9052

North East: 078 4114 4890

North West 079 5437 6096

South West: 077 5979 6478

Southern: 078 3368 1910

Wales: 079 3539 1947

West Mids: 024 7655 5620

Yorkshire: 077 0671 0041

ABOUT US

ARCHIVE

Alphabetical listing


January 2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999