UNISON is concerned about the pension provision of its 25,000 members in FTSE 100 companies and 40,000 members in private utilities eg Lattice, of which Transco is a subsidiary, has closed its final salary scheme to new members;
1.8 million fewer employees in final salary occupational pension schemes than a decade ago (5.6 million in 1991; 3.8 million in 2001, according to the Government Actuary Department);
200,000 reported to have transferred to money purchase schemes, but the figure likely to be higher due to the recent closure of a number of occupational pension schemes;
A good pension scheme costs about 20% of pay with employers paying two-thirds. Money purchase schemes are often the other way round, with employees paying the bulk and companies using them as an excuse to cut contributions;
UNISON