Wednesday lunch time fringe with Pension minister, Mike O'Brien (far left) and Jeannie Drake from the TUC. First time I have seen Mike in action.He seemed to deal very effectively with “Cheeky Chappie” Chair, Liam Halligan (Sunday Telegraph) over the compensation for the 250,000 pensioners whose schemes collapsed before present day safeguards. He gave a hint that there could be further help for these pensioners.
In the Q&A I was able to make a plea to Mike to ensure that the future Pension Personal Accounts scheme has proper independent (trade union) trustees on the board.
In order to explain why I and many others have such a mistrust of most (not all) financial practices and institutions in this country. I shared with the meeting my past, less than glorious, financial acumen. For example I was “sold” a low cost, low start, with-profit Endowment policy to pay off my first mortgage and had a company AVC pension policy with the Equitable Life!
I suppose as UNISON London Finance Convener I really should keep such things quiet?
However, this amongst other reasons is why I am extremely suspicious of our financial service industry in general and also I think the Northern Rock fiasco is just the latest in a number of scandals that could result in a complete collapse of confidence and the failure of the vitally important PPA. People will not join the PPA if they do not trust it and think it is not properly run. Please keep industry interests well away!
6 comments:
Why not get Gordon "no more boom or bust" Brown to be the "independent" trustee? He has a proud record
Good idea Anon - think he might be a bit busy during next few weeks or after he is reelected as PM. You are quite right that he does have a very proud record
In 2005 Labour received less than 10 million votes across the whole UK. Whereas the Lib Dems and Tories polled 14.7m I wonder if Mr "no more boom or bust" will receive such a great endorsement this time?
Hi Anon
Yes, I think so! In fact I think he will increase the Labour vote.
Gordon is very poplar both in the Party and the Country. He is the decent, honest "son of the manse" traditional (there I say) "Old Labour" without the Marxism nonsense.
He's popular amongst the labour movement now because you are so ashamed that you all endorsed Blair.
“He's popular amongst the labour movement now”
Don’t be silly Anon – although we disagreed with TB on some matters the Labour Party and the Country will be forever grateful to him for his many achievements.
We have already had disagreements with Gordon and we will continue to have differences but no-one doubts that the gapping gulf between Labour and the Tories is immense and unbridgeable.
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