UK - Trade unions have attacked car giant Peugeot over demands that hourly-paid workers should increase their pension contributions from 4% to 5%.
The workers – who are based at Peugeot’s Ryton plant near Coventry – contribute into the firm’s defined benefit pension schemes which were valued at £535m at the end of September, down from £641m in March.
Transport and General Workers’ Union deputy general secretary and chief negotiator for the car industry, Tony Woodley, claims the demand follows years of employer pension contribution holidays by Peugeot.
He added: “Ryton is one of the most productive, profitable and efficient plants in Peugeot Europe.
“The workforce have delivered this and they are entitled to look forward to sharing the rewards of success.”
But a Peugeot spokesman said that the firm had not taken a contributions holiday for at least 10 years.
He added: “The company is looking for employees to demonstrate, albeit modestly, that they value their defined benefit scheme and are prepared to contribute the extra 1 percentage point.”
Peugeot’s defined benefit schemes have 6194 members, 10,153 pensioners and 13,100 deferreds.
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