UK/FRANCE - Unions are seeking reassurances from nuclear power group Areva over workers' pension rights.
Trade union Amicus is holding talks with the French-owned company following its £657m takeover of Alstom’s Transmission and Distribution division in Staffordshire.
The division is seen as the “jewel in the crown” of the Alstom heavy engineering group and employs 1500 people to produce equipment for electric generators and turbines.
While Amicus believes the future is bright for the former Alstom employees, it wants to ensure their final salary pension plan is safe.
Amicus regional officer Mick Stevens said it was still early days but there had been positive indications for the Staffordshire workforce.
He added: “Of course, there is concern over the pension arrangements, particularly in the current climate, but there have been talks at the European Works Council and promises of mirror image schemes.
‘We hope to find out exactly what that means in talks with both companies.”
Neither Alstom nor Areva has commented on the implications for jobs or pension arrangements.
The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).
The Transfers and Re-registration Industry Group (TRIG) has given its support to an initiative which aims to complete occupational pension transfers within three weeks.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.