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date: 23 June 2009

embargo: 18.00hrs 23 June 2009

TUC reaction to PwC report on the future of company pension schemes

Commenting on research published today (Tuesday) by PricewaterhouseCoopers on the future of company pension schemes, TUC General Secretary Brendan Barber said:

'Companies are using the recession as an excuse to make savage cuts in pensions. But recessions are short term, and pensions are long term investments that can ride ups and downs in the economy.

'Unions negotiate constructively to deal with genuine pensions difficulties and longer lives. But too many attacks on pensions are no more than companies walking away from a long term commitment to their staff, and are part of the same short-term profit seeking that gave us the financial crash.

'Unions stand ready to resist such attacks, but there is little that non-union workforces can do.'

NOTES TO EDITORS:

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Contacts:

Media enquiries:
Liz Chinchen T: 020 7467 1248 M: 07778 158175 E: media@tuc.org.uk
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Press release (300 words) issued 24 Jun 2009