Thursday 10 April 2014

Let call upon our savings to fight poverty and inequality

Looking within the UK’s largest companies provides a snapshot of the striking inequality nationwide.

While executives are earning staggering figures in bonuses, within the same firm the workers on the bottom end of the pay-scale often do not receive even the Living Wage – £7.65 or £8.80 in London.

The pay gap in these companies is only a reflection of the nationwide pay inequality 

The Trade Union Congress (TUC) found 20% of the UK’s working people earns less than the Living Wage.

Meanwhile, the High Pay Centre calculated that the average FTSE 100 CEO earned about £4.3 million in 2012 and these pay ratios are only continuing to separate further.

Christians across the UK have been at the forefront of the call for the Living Wage, in both raising wages and campaigning for its adoption.

But right now, there is an opportunity to bring forward our call for the Living Wage directly to company boardrooms.

The executive bonuses are being put to vote amongst large shareholders including pension funds before company meetings (AGMs) and while executive pay is being discussed, they’re not yet considering the pay on the bottom.

According to a poll by YouGov, more than half of all pension savers want their pension funds to engage upon the issue of the Living Wage, but our pensions need to hear from us, their members, in order to do so.

With this simple email, you can ensure that your pension uses your savings to bring the call for pay justice to the company board room, ending the combination of crazy pay-outs to executives and a blind-eye to the UK’s low paid millions.

1 comment:

  1. The big issue is trying to get companies so the differential between the highest paid and lowest paid diminishes to say a factor of 20 rather than several hundred. If chief exec gets paid £1,000,000 his or her cleaner gets £50,000.

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