British labor union chief calls for end to young-versus-old pay battle

Changes to the labor market in Britain have caused falling pay and job insecurity for young people rather than better pensions for older people, a leading trade union official said Wednesday.

A study published by the Trades Union Congress (TUC) said there is insufficient evidence to suggest that older people's pensions are weighing on the wages or pension benefits of young workers.

The paper on intergenerational inequality was published to coincide with an annual TUC pension conference in London Wednesday.

It said that 1.5 million pensioners in Britain, mostly women, are living in poverty in today's Britain.

The report said that changes to the labor market, rather than pensions for older workers, have placed young people at the sharp end of falling pay, rising insecurity and poor retirement provision. It called on government ministers to ensure increased pension provision for everyone.

TUC assistant general secretary Paul Nowak said: "Many young workers are unable to save for a pension because they're stuck in low-paid, insecure work. But we are not going to fix this problem by pitting them against older people. Let's not forget that 1.5 million pensioners live in poverty, and most of them are women."

"All generations deserve fair pay during their working lives and a decent standard of living in retirement. We must focus on the wider causes of inequality to improve pensions across the board," he added. Endit