Motion - Invest in the Future / Divest from Fossil Fuels

This is the first of two motions i submitted to the recent Full Council. Unfortunately, I was a bit unwell and left the meeting early, so the formal proposal was made by a Labour comrade.

 

 

Invest in the Future / Divest from Fossil Fuels

1. This Council notes:

• That our council pension fund is heavily invested into fossil fuels, according to data available on https://gofossilfree.org/uk/fuellingthefire/
• That the Paris 2015 Agreement commits our government to keep the global temperature increase within 2 degrees and aim for 1.5 degrees. Carbon budgets produced by the IPCC and UN show that avoiding 2 degrees of warming relies on not burning 60-80% of discovered fossil fuels. 
• Repeated warnings by Bank of England Governor Mark Carney that “the vast majority of [fossil fuel] reserves are unburnable”.
• The resulting threat to pensions that are over-exposed to fossil fuels, and therefore to local pension-holders and council taxpayers.
• The shortage of investment into social housing, transport, and renewables.
• The importance of a just transition for workers in sectors and communities dependent on fossil fuels, and of decent and unionised low-carbon jobs.
• That several UK local government pension funds have committed to divesting, joining $6 trillion in fossil fuel divestment commitments worldwide.
• That UNISON (largest union representing local government workers) and the TUC campaign for divestment in line with obligations to pension-holders.

2. This Council resolves:

• To call on the council pensions committee to commit to divest from fossil fuels over the next 5 years.
• To call upon the council pensions committee to seek to reinvest into the just transition, where possible and in line with obligations to pension holders.

Julian Ware-Lane is pleased with Labour's promises on pensions

Julian Ware-Lane, Labour’s candidate in Southend West, is pleased that the Labour manifesto includes a commitment to continue the “triple lock” on pensions, and to extend pension credits to women born in the 1950 who had their retirement date changed. “These are issues that affect a good number of constituents,” said Julian. “Our commitment is clear and unambiguous: we will protect pensioners and deal with the anomalies in the present system.”

The triple lock guarantees that the basic state pension will rise by a minimum of either 2.5%, the rate of inflation, or average earnings growth, whichever is largest. Over recent years, pensioner have seen their incomes increase relative to earnings and prices.

Theresa May is known to favour scrapping the triple lock and instead only increase the basic state pension in line with earnings or the retail price index. “Once again,” Julian said, “it is ordinary people who the Tories are considering making pay for their inability to deal with the deficit.”

In a move that will affect women born in the 1950s, Labour will extend pension credit to the women who have had their pension age changed to 65 in line with men. Sir David Amess, Conservative candidate for Southend West, believes that women had sufficient notice of the changes and could, “make preparations for their retirement,” wrongly believing the changes had “been clearly advertised on the Government websites.” As Julian points out, “It was a little embarrassing that the change, first announced in 1995, was still incorrectly shown on a government website as 60-years-old in January 2016.”

Labour has acknowledged that these “women deserve both recognition for the injustice they have suffered and some kind of compensation for their losses.” To redress this, Julian is delighted that, “Labour will extend pension credit back to these women.”

Labour will also ensure that the winter fuel allowance and free bus passes continue “as a universal benefit,” and have committed to “protect the pensions of UK citizens living overseas in the EU or further afield.”

MAKE FAIR TRANSITIONAL STATE PENSION ARRANGEMENTS FOR 1950'S WOMEN

I am submitting the following motion to Southend-on-Sea Borough Council :-

MAKE FAIR TRANSITIONAL STATE PENSION ARRANGEMENTS FOR 1950'S WOMEN

“The Council calls upon the Government to make fair transitional state pension arrangements for all women born on or after 6th April 1951, who have unfairly borne the burden of the increase to the State Pension Age (SPA) with lack of appropriate notification.

Hundreds of thousands of women had significant pension changes imposed on them by the Pensions Acts of 1995 and 2011 with little/no/personal notification of the changes. Some women had only two years notice of a six-year increase to their state pension age.

Many women born in the 1950's are living in hardship. Retirement plans have been shattered with devastating consequences. Many of these women are already out of the labour market, caring for elderly relatives, providing childcare for grandchildren, or suffer discrimination in the workplace so struggle to find employment.

Women born in this decade are suffering financially. These women have worked hard, raised families and paid their tax and national insurance with the expectation that they would be financially secure when reaching 60. It is not the pension age itself that is in dispute - it is widely accepted that women and men should retire at the same time.

The issue is that the rise in the women's state pension age has been too rapid and has happened without sufficient notice being given to the women affected, leaving women with no time to make alternative arrangements.

The Council calls upon the Government to reconsider transitional arrangements for women born on or after 6th April 1951, so that women do not live in hardship due to pension changes they were not told about until it was too late to make alternative arrangements.”

See the following links

http://www.waspi.co.uk/

http://www.independent.co.uk/money/government-faces-legal-action-over-women-whove-lost-out-on-pensions-a6724191.html