We are considering alongside the other unions the next steps with the possibility of moving to an industrial action ballot says GMB
GMB members employed by United Utilities have voted by a massive margin in a consultative ballot to reject the company’s plan for all staff to move from a defined benefit final salary pension to a defined contribution pension scheme after 31 March 2016.
The consultative ballot followed a GMB meeting with senior representatives of the company on 16th October to commence consultation on pensions. The company began a formal 60 day consultation on 16th November which will conclude in mid-January.
Eddie Parker, GMB Regional Officer, said “The company 60-day consultation on the proposal can hardly be called a consultation when the Company has already declared that it wants to close the scheme before talks have even commenced.
The proposal is another blow to hard working members at United Utilities who had already accepted cuts to their pensions to keep them sustainable.
The Company has enjoyed a £226M tax windfall over the past 5 years, due in part to low interest rates. It is now proposing to close the scheme because low interest rates are affecting future liabilities. You can't make it up.
United could have paid off the deficit with the tax windfall over the past 5 years.
GMB is now considering alongside the other unions the next steps with the possibility of moving to an industrial action ballot”.
Contact: Eamon O Hearn 07918 777097 or for GMB at United Utilities Eddie Parker 07740 804046 or GMB press office 07921 289 880.
