date: 9 June 2006

embargo: immediate

No to NAPF's 'smash and grab' raids on people's pensions

Commenting today (Friday) on the call by Christine Farnish, the Chief Executive of the National Association of Pension Funds, that employers should be able to cut benefits built up by employees in pension funds, TUC General Secretary Brendan Barber said:

'This call for employers to be able to make smash and grab raids on their staff's pension benefits is completely unacceptable. This is no more than a retrospective pay cut, cutting wages that have already been paid. Unions will fight this tooth and nail, both politically and in the courts.

'If this were allowed, there would be an inevitable chain reaction with every employer facing city pressure to break the pensions promise to their staff. It is odd to see the leader of what is meant to be a pro-pension body putting forward a proposal of collective self-harm.'

NOTES TO EDITORS:

- All TUC press releases can be found at www.tuc.org.uk

Contacts:

Media enquiries: Liz Chinchen T: 020 7467 1248; M: 07778 158175; E: media@tuc.org.uk

Press release (200 words) issued 9 Jun 2006