1. Working together to defend your pension
Thanks to Camden NUT

2. Our case is very simple Our pensions are affordable
We agreed cost sharing changes to the scheme in 2006
These changes are bringing about the desired savings and costs are falling
The government has not carried out a valuation of our scheme
So they have no evidence that these changes are necessary

3. Pay more, work longer, get less
Up to 50% increase in pension contribution and more
Work to age 68 or more
Pension age linked to state pension age
Move to career average
Change indexation to CPI (lower than RPI)

4. A pay freeze Your pay has been frozen for the next two years
Institute of Fiscal Studies say government economic policies leading to 10% drop in living standards
Inflation is now over 5% on both CPI and RPI

5. RPI - CPI This is a 15% cut to our pension.
The government changed the indexing of our pensions from RPI to CPI in April 2011.
CPI is 0.8% a year less than RPI on average.
This is a 15% 
cut to our 
pension.

6. Who pays what? Proposed Scheme Current Scheme
Employee: 6.4%
Employer: 14.1%
Total contributions = 20.5%
Proposed Scheme
Employee: 9.5%
Employer: 10.5%
Total contributions = 20.1%
Overall contributions have gone down, this gives the lie to the government’s claim that our pension scheme is in crisis. It is a way of teachers subsidising underinvestment in schools.

8. Accrual rates Proposed scheme Accrual rate 1/65th No lump sum
Pre 2007 scheme
Accrual rates 1/80th
Lump sum 3/80th
Normal pension age 60
Post 2007 scheme
Accrual rates 1/60th
No lump sum
Normal pension age 65
Proposed scheme
Accrual rate 1/65th
No lump sum
Normal pension age 68

9. An example Pre-2007 scheme Annual pension £14,212 Lump sum £42,637
Teacher works for 30 years and retires at 63
on the average retirement salary of £37,900.
Pre-2007 scheme
Annual pension
£14,212
Lump sum
£42,637
Post-2007 scheme
Annual pension
£17,054
No lump sum
Proposed scheme
Annual pension
£13,119
No lump sum

10. Career average vs final salary
The government have said they will move us to a career average scheme.
Everyone loses.
Classroom teacher        Senior teacher           Headteacher
-5%
-20%
-35%

11. Next strike – November 30th
NUT, ATL, UCU and PCS already have live ballots
Other unions currently balloting:
Teachers: UCAC • EIS • NAHT • NASUWT
Support staff: UNISON • GMB • UNITE
Others: FDA • PROSPECT • Health unions

12. STAND UP FOR YOUR PENSION
What can you do?
Make sure someone from your school is coming to the NUT Pensions Briefing
Hold a school union meeting
Encourage every colleague to join in the strike action on November 30
Join the march and rally in London
STAND UP FOR YOUR PENSION