UK - Finance unions Unifi and Amicus have merged and warned employers not to attempt to "whittle away" pension entitlements.
A ballot of Unifi members showed 91% were in favour of the merger. The combined union will have around 200,000 members within the financial services sector, equivalent to two-thirds of all trade union members in the industry.
Unifi general secretary Ed Sweeney – speaking at the union’s annual conference – warned companies against slashing members’ benefits while enjoying massive profits.
“By combining the resources of these two great unions, we can represent members’ interests much more forcefully.
“There are huge challenges in front of us. Pension entitlements are constantly being whittled away without justification, except the inevitable cost-cutting in organisations that are delivering record profits.
“Our members have voted by an overwhelming majority and we will deliver. Together we have resources, we have opportunity and we have the desire to improve the work experience for thousands of finance workers.”
Ex-BHS owner Dominic Chappell has been ordered to pay a total of £87,000 in fines and court costs after he was found guilty of failing to provide The Pensions Regulator (TPR) with information.
The Department for Work and Pensions (DWP) has said it while believes in the benefits of consolidating defined benefit (DB) schemes, there are significant issues to overcome.
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.
Nearly a third (32%) of employers believe new technologies, such as augmented and virtual reality, will play a part in benefits communications, latest research from Aon Employee Benefits reveals.