UK - A ‘furious' Transport and General Workers' Union (TGWU) has said it is ready to fight plans by food retailers Iceland Frozen Foods to kill off its final salary scheme, covering more than 4,000 workers.
Furthermore, the TGWU is to press Iceland for an urgent meeting to discuss the situation and avoid any actions by “outraged members.”
In a letter to Iceland, Mike O’Leary, TGWU regional industrial organiser, said that the union will “vigorously oppose the proposals and leave no stone unturned in an effort to change the company’s position.” Iceland’s decision will affect 4,400 workers who signed up to the company pension scheme before 1997.
O’Leary said in his letter: “Any downfall in the present value of the company is a direct result of the existing management and they must shoulder the responsibility for that situation. We have pledged full support to the company to turn the business round, but not at the expense of the members’ final salary pension scheme. “This decision will create a de-motivated workforce with no incentive to deliver the best quality services.”
By Madhu Kalia
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