EVERYONE is aware, except perhaps the elite of the unions, the cost of insurance is increasing since the bank interest rate was reduced.
The pension insurers are unable to raise much money on what they have.
Therefore as a compromise I would suggest union bosses should tell their members: “if you are satisfied with what will be provided from your present contributions, fine – that’s what you will get.
“If you want more, for what is after all a second pension, you will have to pay the going rate.”
For union bosses not to be truthful is expected, but not of much use to their members who lose pay – their union leaders do not!
Newlands Lane, Chichester