UK - Trade union Amicus is pressing employers to open the JIB Pension Scheme to electrical contractors in Scotland - and increase contribution rates.
The engineering and manufacturing union is angry that the £110m industrywide defined contribution scheme is open to contractors in England and Wales while those in Scotland only have access to a non-contributory stakeholder.
Amicus also wants employer contributions to increase from the current rate of 2.5%, which it describes as “amazingly low”.
Amicus scottish regional officer Bobby Buirds said: “We want to introduce a pension scheme with better benefits.”
But he added: “It is a long and drawn out process.”
Meanwhile, Amicus members in the plumbing industry have voted in favour of changes to their industrywide scheme – the £865m Plumbing & Mechanical Services Industry Pension Scheme – which has been hit by falling investment returns over the past three years.
Employee contributions will rise from 3.3% to nearly 3.8%, while employers’ contribution rates will rise one percentage point to 7.5%.Pre-retirement bonuses are to be reduced and instead of being raised in line with prices will, from April 6, be in line with price inflation.
National officer Geoff Whitlow – in a letter to Amicus members – said: “We would remind you that Plumbing Pensions continues to represent excellent value for money and the increases will assist in protecting benefits long into the future.”
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