UK/FRANCE - Trade unions are taking a pension row at UK chemical firm Rhodia to its parent company in France.
Talks with UK managers at the company’s plants in Widnes and Oldbury broke down last month leading to a series of 24-hour walkouts by Amicus and GMB union members.
Now the International Federation of Chemical, Energy, Mine and General Workers’ Union is calling for corporate executives in France to step in.
The strike is over the firm’s plan to close its defined benefit scheme to new employees who will be offered a money purchase option instead.
The 625 union members at the two plants voted in early July to take industrial action with more walk-outs planned for September 5 and 19.
ICEM general secretary Fred Higgs has written to Rhodia chairman and chief executive Jean-Pierre Tirouflet in a bid to settle the dispute amicably.
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.