UK - Unions representing staff at Peugeot's Ryton plant called off industrial action after the car manufacturer put forward a last-minute pay and pensions offer.
The workers voted last month to support strike action after the company proposed a two-year pay package that would see the pension contributions of 4000 employees rise from 4% to 5%.
But the Transport and General Workers’ Union cancelled the strike action after Peugeot put forward a new offer just hours before the walk-out.
A T&G spokeswoman said: “The company has suggested that the increase in pension contributions – which was a real sticking point – would be split and staggered.”
Under the new offer, workers’ pensions contributions would increase half a per cent in October 2003 and then a further half a percent in October 2004.
Workers will now be balloted on the new offer.
A suite of liability driven investment (LDI) indices has been launched by STOXX and RiskFirst to aid trustees and consultants select, monitor and challenge managers.
British Airways and the trustees of one of its pension schemes are set to argue over the purpose of a pension scheme, leading to an impactful judgment for DB pensions. James Phillips explores the issue
Bank of England governor Mark Carney has said there is still a lot of data to consider before the Monetary Policy Committee (MPC) can decide when to next hike interest rates.
Savers are not squandering their tax-free lump sums under Freedom and Choice but are taking a more cautious approach to retirement, according to Prudential research.