Derby Council needs to publicly guarantee workers’ pension funds right now
The collapse of Thurrock County Council could put Derbyshire District Council workers’ pensions at risk, GMB Union has warned.
The government has appointed a commissioner to take over the Tory-run unitary council due to its level of financial risk and debt. [1]
Derbyshire District Council’s pension scheme is thought to have invested around £30 million into Thurrock’s Green Energy Scheme. [2]
The scheme already looked to be in financial difficulty, even before the council’s collapse. [3]
Mick Coppin, GMB Organiser, said:
“GMB members working at for Derbyshire Council need immediate cast iron guarantees Thurrock’s collapse won’t cost them their financial security in retirement.
“Investing workers’ hard-earned cash in a hairbrained scheme like this is irresponsible at best.
“Derby Council need to publicly guarantee workers’ pension funds right now.”
