GMB response to the Government’s green paper on Defined Benefit pensions, released today, which outlines a plan to reduce promised indexation for some pensions.
Keir Greenaway, GMB National Officer, said:
“This green paper once again reveals the true face of the Tories: best chums with their business cronies but happy to take cash from the pockets of ordinary working people.
“Allowing schemes to break promises on pensions and raid workers retirement savings to cover for mistakes in the boardroom will not be music to the ears of employees.
“Although it will no doubt go down very well with the big business bosses who bankroll the Conservatives.”
 Security and Stability in Defined Benefit Pension Schemes, section 279 Page 62 - 64