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TUC criticises 'boardroom hypocrisy' on pensions.

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Vincent
PositionNews Round-Up

Companies that have closed their final-salary pension schemes to new recruits came under fierce attack at the TUC's annual conference last month.

Tony Woodley, the incoming general secretary of the Transport and General Workers' Union, compared them to train robber Ronnie Biggs, while Gerald Imison, deputy general secretary of the Association of Teachers and Lecturers, likened the government to fraudster Robert Maxwell in its treatment of public-sector pensions.

The TUC's general secretary, Brendan Barber, criticised directors who had retained their own generous pensions, having denied final-salary schemes to their staff. Almost three-quarters of directors are still on final-salary pension schemes.

"They are tightening other people's belts, not their own," Barber said. "It is a straightforward case of boardroom hypocrisy."

The CBI's director-general, Digby Jones, called on delegates to turn away from the language of confrontation and adopt a constructive agenda to meet the needs of the globalised economy.

"Business leaders don't always get it right, but more do than are ever given credit for, and we must be mindful of the need to set a good example when it...

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