Tata steelworkers vote for pension reforms to safeguard their jobs
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Tata steelworkers voted overwhelmingly to accept reforms to their pensions today, safeguarding their jobs.
Members of three unions backed changes by around three to one, giving a mandate to “move forward” following months of uncertainty.
Tata bosses outlined plans last year for an overhaul which includes promising to avoid compulsory redundancies for five years and unleashing a decade of investment.
The result also paves the way for a billion pounds to be pumped into Britain’s biggest steelworks, Port Talbot.
(Photo: Getty)
It will also see a revamp of the British Steel Pension Scheme to avoid it plunging into the pension protection fund.
Community steelworkers’ union general secretary Roy Rickhuss said:“Steelworkers have taken a tough decision and have shown they are determined to safeguard jobs and secure the long-term future of steelmaking.
“Nobody wanted to be in this situation, but as we have always said, it is vital that we now work together to protect the benefits already accrued and prevent the BSPS from free-falling into the PPF.
(Photo: PA)
“This ballot involved an extremely personal decision for everyone that voted. Whichever way our members cast their votes, we know they will not have taken that decision lightly and everyone’s opinions must be respected.
“We now expect Tata to make good on their promises and deliver the investment plan for the whole of their steel business. The UK Government still has an important role to play and we fully expect them to deliver tangible support for steel-making in the UK.”
Unite national officer Tony Brady said: “This is not a decision our members have taken lightly.
“It has been a hellish time for them, their families and their communities as uncertainty has swirled around the steel industry over this past year or more.
“During that time steelworkers have made great sacrifices to ensure the UK’s world class steel industry has a future.
“Those sacrifices must be repaid by Tata Steel honouring its commitments on investment and job security."