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Unions ballot over pension scheme closure at Associated Press

18 May 2012

BECTU and the NUJ are balloting members for strike action over the planned closure of the final salary pension scheme at Associated Press. Ballot papers will be issued on Monday 21 May 2012.

BECTU issued the following press release earlier today (Friday 18 May )

BECTU & the NUJ to ballot members at AP over pensions

BECTU and the NUJ are balloting their members at the Associated Press over decent and fair pension provision for all at the company.

The company has announced its intention to close its final salary pension schemes and only offer an inadequate defined contribution scheme in its place. BECTU and the NUJ are campaigning for adequate pension provision for all.

Commenting on the dispute Sofie Mason, national official, said:

"The company has assumed that the economic climate has given them the licence to shift the risk of pension costs entirely onto the employee and race headlong to the bottom of the barrel offering an inadequate and insulting defined contribution scheme not worthy of a world class company with world class employees."

NUJ officials Laura Davison and David Ayrton said:

“The company is in danger of rendering the consultation meaningless by its refusal to extend the consultation period beyond the legal minimum.  More time is needed to enable the constructive proposals put forward by the NUJ and BECTU to be fully explored.”

Members in the defined benefit schemes stand to suffer significant financial detriment in retirement if the changes are made, while the existing defined contribution scheme does not even meet the recommended level for a decent pension set by the charitable Pensions Policy Institute.

Ballot papers will be issued on Monday 21 May with a closing date of 1 June 2012.

The joint unions remain committed to reaching a settlement to the dispute and have indicated that they would be willing to attend ACAS to facilitate this.

ENDS

Query about this article? Contact us at BECTU.

 

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