|
21-Jul-08 11:15 [Pensions]
Trade unions 'disagree with PFIs' Trade unions want the Local Government Pension Scheme (LGPS) to stop investing in private equity funds, it has been revealed.
News resource the Daily Mail, revealed that trade unions have claimed that the LGPS should stop trying to make a "quick buck" by funding private finance initiatives (PFI) with £125 billion budget.
The website added that unions believed this investment is directly affecting pay and employment as costs have to be cut to add to these initiatives which include contributions to schools, hospitals and public facility management.
Speaking to the news provider, an unnamed source from the unions said: "When local authority pension funds invest in private equity funds, they are helping to reduce the living standards and job prospects of their own members."
At the beginning of the month, Public Private Finance reported that trade unions were pressing the Treasury to include the effects of PFIs on public sector pay and conditions in its upcoming survey of such projects.
Please click here for more UK employee pension news
The government's launch of a public consultation into service charges, gratuities, cover charges and tips will include proposals to make tipping fair, it has been revealed.
Find out more>
People failing to save into their pensions will be reminded by the government to do their best to honour pension schemes, as cutting out payments altogether could spell trouble in later life.
Find out more>
New York's attorney-general Andrew Cuomo has urged executives of top companies to forgo their bonuses for the year, it has been revealed.
Find out more>
|
