Pensions, Retirement and Old Age

Excerpted from a message from John Sweeney, President, AFL-CIO...

Age Canada Old Pension Wal-Mart is waging war on workers -- and the first casualty is the American standard of living.

"Requiring compulsory contributions from businesses will hit small firms disproportionately and will be seen as another tax on them." Lord Turner led a commission on pensions for the government which published its findings last November, calling for the retirement age to be raised from 65 to 69. The report also called for the establishment of a national pensions savings scheme, a proposal which the FTSE Group today claimed could produce "massive distortions" in the FTSE 100 index.

Funds Pension We urge you to join the United Food and Commercial Workers and the AFL-CIO in launching the Peoples Campaign-Justice @ Wal-Mart. Participate in the National Day of Action on November 21, as a first step in building the grassroots movement that will transform Wal-Mart into a responsible employer and corporate citizen.

Gordon Brown has renamed the DTI the Department for Business, Enterprise and Regulatory Reform (DBERR) to reflect its focus on the reduction of red tape and a commitment to entrepreneurship. 2006 Older employees plan to keep on working Older employees are increasingly willing to work on past the traditional retirement age, according to a new survey. called 'baby boomers' have told Heydey, profit organisation set up by Age Concern, they want to work past the state pension age.

Hancock John Pension Wal-Mart business practices affect all working families. It is the largest private employer in the U.S. -- with more than a million employees -- as well as the largest shipper, warehouser, and retailer. In fact, Wal-Mart is the worlds largest corporation, raking in approximately $600 million daily and $220 billion annually in revenue.

77% of voters from the Royal Mail's Communication Workers Union (CWU) are in support of a national postal workers' strike. ridden Brits to save is to be revealed by the shadow work and pensions secretary Sir Malcolm Rifkind. The new bill, called "Rights for Savers", proposes the creation of a new lifetime Savings and Retirement Account (Sara); cost, term savings account, involving normal pension tax breaks but which enables cash to be withdrawn at predetermined stages during a lifetime.

Pension Widow Wal-Mart's attacks on workers threaten the entire labor movement. The company is dragging wages and benefit levels back to nineteenth century standards. Wal-Mart workers are paid $2-$3 an hour less than union members who perform similar jobs. The companys health plan is so expensive, and its eligibility requirements so restrictive, that two-thirds of Wal-Mart workers cannot afford to participate in the company plan. Wal-Mart fully admits that the majority of its workers are forced to rely on public assistance or a spouses health benefits to attain medical care. It is estimated that the company shifts approximately a billion dollars a year in health costs to taxpayers and responsible employers. Wal-Mart workers have no defined benefit pension plan and must invest 85 percent of their 401(k) contributions in Wal-Mart stock.

Some retired taxpayers receive a retirement pension or annuity, often paid in installments. But in most cases this retirement benefit does not escape taxation. In addition, quarterly tax payments may be due if withholding is not taken out of the monthly benefit. For more on this topic, please review Annuities and Pension Plan Installment Payments.

Fund Pension Most Wal-Mart stores are built non-union. The company puts relentless pressure on its suppliers to reduce their prices resulting in wage and benefit cuts, as well as alterations in work rules, for their workers. Wal-Mart is leading the coalition of retailers urging the west coast dock owners to demand concessions from the longshoremen. The companys economic clout is so extensive that Wal-Mart is an invisible third party sitting at bargaining tables across the country.

Investment Pension Simply put, Wal-Mart is a corporate outlaw. It violates human rights and is viciously anti-union. The NLRB has issued over 40 complaints against the company in more than 25 states for illegally denying workers their right to support and form a union. Wal-Mart faces an ever-increasing number of lawsuits for discrimination based on gender, sexual orientation, and race. Lawsuits regarding illegal pay practices -- changing time records and forcing employees to work off the clock -- are mounting. Wal-Mart buys products from countries where human rights abuses are rampant and sweatshops and child and forced labor are common.

Canadian Pension Plan On Thursday, November 21, we are calling on labor, community, environmental, student, civil rights, and victims rights organizations to join together to launch a People's Campaign-Justice @ Wal-Mart. With events in all 50 states, this Day of Action will demand that Wal-Mart become a responsible corporate citizen that provides good jobs, equal opportunity, fair business and trade practices, and respects the rights of workers, consumers, and communities. Please participate in these events!

Department Pension Work For more information go to www.walmartdayofaction.com

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