UK - A majority of workers fear they will lose their pensions rights if their job is outsourced, a survey from Cap Gemini Ernst & Young shows.
The consulting firm’s study also found that few workers understood their rights under TUPE – legislation designed to protect transferred employees’ rights and is set to be expanded to cover private sector pensions under government proposals set out last week.
Cap Gemini said two-thirds of respondents thought that outsourcing would lead to reduced job security, 52% thought they would lose their pensions rights and 32% felt that it would lead to lower pay.
The sample was drawn from UK companies and organisations with over 250 employees.
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Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point