Date: Fri 28 October 2011

Fat cat pay shows pension fight justified - UNISON

Public services union UNISON said today that the huge rise in Directors pay and rewards revealed today show that workers in public services are right to ballot for strike action to protect their pensions.

A report by Incomes Data Services released on Friday showed that FTSE Directors total reward has risen by 49% in the last year. These pay packages include hugely generous pension arrangements – the median level is over £100K per year.

UNISON is balloting members for strike action to resist changes that will see the value of public sector pensions devalue by 15% over time and - and impose crippling increase in pension contributions for many.

UNISON Scotland Convener Lilian Macer said:
“The same fat cats who are taking these unjustifiable pay increases also award themselves huge pension pots that will see them retire on thousands of pounds a week . Yet these same people are supporting the attacks on the pensions of school cleaners and nurses. Enough is enough - we will defend our pensions”

Stephanie Herd Chair of UNISON Scotland’s Local Government Committee said:
“Today’s report shows more than ever that the real divide in pensions isn’t between public and private - it’s between rich and poor. Public servants receive modest pensions - and they are attacked as unaffordable by the same people who think nothing of awarding themselves pensions worth more in a month than most of our members earn in a year. It’s completely unfair - and shows that we are absolutely right to ballot for strike action to defend our pensions.”

ENDS

For further information contact:
Lilian Macer, UNISON Scotland Convenor 07939143353
Stephanie Herd, UNISON Local Goverment Chairperson 07989 544162
Stephen Low, Policy Officer 0795 685 2822

Notes to editors:

1. Press Release on Incomes Data Services report can be found here:
http://www.incomesdata.co.uk/news/press-releases/directors-pay-report-2011.pdf

2. Fat cat pension details can be found here:
http://highpaycommission.co.uk/wp-content/uploads/2011/08/HPC-DPpensions.pdf

3. UNISON’s industrial action ballot over pensions will close on 3 November

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