1. Working together to defend your pension

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 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. Current Scheme Employee: 6.4% Employer: 14.1% Total contributions = 20.5% Proposed Scheme Employee: 9.5% Employer: 10.5% Total contributions = 20.1% Who pays what? 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.

7. Contributions rates Part-time teachers will have their contribution rate based on a full-time salary, NOT their actual salary.

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

9. An example Teacher works for 30 years and retires at 63 on the average retirement salary of £37,800. Pre-2007 scheme Annual pension £14,175 Lump sum £42,525 Post-2007 scheme Annual pension £17,010 No lump sum Proposed scheme Annual pension £14,175 No lump sum

10. Career average vs final salary The government have said they will move us to a career average scheme. Everyone loses. -5% Classroom teacher Senior teacher Headteacher -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. What can you do? Hold a joint union meeting Sign the petition E-mail your MP Visit the website www.decentpensions.org.uk