PENSIONS’ ACTION DAY

Britain’s economy is in crisis and, in order to help out banks and business, taxes will be increased and social services cut. The living standards of millions of working, disabled and retired people are threatened. Nowhere is this more evident than on the issue of pensions; facing both existing pensioners and future generations. PROTEST On April 6 the basic state pension will rise by just £4.55 a week and £2.70 for millions of women who rely on their husband’s contributions. This will raise the pension to a mere £95.25 for a single pensioner. Such a low state basic pension means millions of pensioners remain on means-tested benefits and today’s workers face poverty when they retire. Only a decent state pension provides an effective and reliable way of guaranteeing real financial security in retirement. That is why the NPC is calling on all affiliates and supporters, including RMT, to organise protests on April 6 and make a stand for a decent state pension for all generations. THE PENSION ISSUE For years, successive governments have relied on means-tested benefits for existing pensioners and good quality occupational pensions for today’s workers as a way of avoiding having to pay a decent state pension. But this approach is now unravelling. Despite government suggestions that they have reformed pensions – our state pension system needs urgent attention in order to ensure real financial security for everyone in retirement, and end the over- reliance on private pension schemes which are governed by a volatile stock market. WHAT WE NEED As a first step, the state pension should be set above the official poverty level of £165 a week, paid to all men and women, and linked to earnings or prices (whichever is the greater) now. This could be financed through a number of measures, including: • Using the surplus in the National Insurance Fund, which currently stands £46 billion, and is forecast to grow to £114 billion by 2012 • Abolishing the upper earnings limit on national insurance contributions would raise at least £8 billion a year • Scrapping higher rate tax relief on private pension contributions would raise up to £20 billion WHAT CAN BE DONE? All affiliates are encouraged to take part in this nationwide day of action. Please consider organising some form of protest, such as: • Stage a lunchtime demonstration outside local DWP offices (where possible in conjunction with the PCS union) • Hold a public meeting with guest speakers from supporting organisations and/or local politicians, prospective parliamentary candidates and MPS (where possible) • Organise a street stand and/or distribute campaign leaflets to the public • Organise some form of protest/direct action/publicity stunt as agreed by your members Make sure you inform the NPC office what you are planning so that we can co-ordinate efforts across the country and notify the media accordingly. FOR MORE INFORMATION Contact Neil Duncan-Jordan NPC National Officer Email: info@npcuk.org Tel: 07940-357-608 If you know of someone who was or may have been a member of the Fund in the past please ask them to contact MNPA if they are not yet claiming a pension when they should be. When the MNRPF closed in May 2001, agreement was reached with the employers to form the MNRPP, which is a money purchase pension plan, and has • employer contributions • employee contributions • death in service benefits Your contributions get tax relief when you pay them and the lump sum on retirement is also tax free. Should you die before you retire, the lump sum of twice your earnings is again paid tax free to your family or dependents. You also get a quarterly benefit statement from the administrators. The Trustee will shortly be introducing the chance for you to look at your benefits on line and will be writing to you with more details about this. If are not a member and want to join you should ask your employer if they participate in the MNRPP and complete the application forms so that you get the Plan benefits started. The priority of the Trustees, both RMT-nominated and those from the Chamber of Shipping, is to ensure that the Fund is kept going to enable all members to receive the benefits they are entitled to, now and in the future. The MNRPF is valued at about £600 million and has 28,000 members. PENSIONS’ ACTION DAY The National Pensioners Convention organise a day of action on April 6 to demand a decent state pension RMT helpline 0800 3763706 :: february 2009 :: RMTnews 17