UK - Air travellers face New Year chaos as BAA staff voted in favour of strike action over the closure of its final salary pension scheme to new entrants.
Brian Boyd, national secretary, Unite, civil air transport, told Global Pensions: "The company holds the key to solving the impasse we are in."
Boyd continued: "If they reconsider their decision on the scheme's closure to new entrants, we are happy to talk with them. Trade unions understand companies' concerns over pension schemes, but a £27m deficit is a drop in the ocean to one this size."
Officials from BAA and the three unions met earlier this month to discuss options available to the company and its staff.
Boyd described these negotiations as "rather closed ended".
The £2.2bn pension scheme is due to undergo its actuarial assessment in April. Boyd commented it would have been more appropriate to have discussed the fund at this time when a clearer picture would be available.
Boyd concluded: "This is just a concerted effort by the board to have a go at the pension scheme. With this strike action, our members are exercising their right to decent pension provision."
BAA operates London Heathrow, Gatwick and Stansted airports, plus Edinburgh, Glasgow and Aberdeen terminals.
Some 56% of defined contribution (DC) asset managers do not believe they will have transaction cost information in time for pension funds' March year-end statements, according to Lane Clark & Peacock (LCP) research.
NEST has appointed Clive Elphick, Martin Turner, Mutaz Qubbaj and Chris Hitchen as trustee members of its reshaped board.
Most people want to avoid investing in projects that contribute to climate change, and would consider moving to another less-exposed provider, according to a survey commissioned by ClientEarth.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.