Our Pensions

Kinnock has damaged our pension schemes and the salary adjustment method by applying rough and ready changes without proper dialogue with the trade unions. The result is that you will have to work longer and contribute more, to reach the same level of allowances and therefore the same level of retirement. The salary adjustment method was changed to save money. Between 2004 and 2008, the Kinnock method has decreased your purchasing power by 2.3% in 4 years, which represents a saving of less than 1% of the entire community budget. The current salary adjustment method will end in 2013. The true challenge will be to replace it and to decide what to replace it with.