UK - Unions have walked away from a consultation by Unilever on plans to move all final salary members into career average, making strike action at the firm "very likely", an official says.
Unite, Union of Shop, Distributive and Allied Workers and the GMB have all pulled out of a consultation, due to close on 22 September, and are now moving to conduct a member ballot for industrial action after the end of September.
GMB national officer Allan Black said: "The consultation exercise as far as the unions are concerned has come to a conclusion. If the company want to meet us they'll obviously say so and we'll come along and see what they have to say but there are no meetings planned."
Unions went to Unilever with details of its own consultation showing 97% of its membership would back a ballot to strike in opposition to the firm's plans to change the scheme.
"We asked the company after the ballot if they were prepared to maintain the final salary pension scheme and they said no. They're not listening to their workforce," Black said.
The changes will see final salary members move into a career average arrangements, which were set up for new members when the final salary scheme closed to new entrants.
The changes are due to be triggered in January.
Black added: "No one wants strike action because people lose money and we'd much rather settle the matter by meaningful consultation."
Unilever were unavailable for comment at time of publication.
Proposed changes to The Pensions Regulator's (TPR) notifiable events framework so it can be more proactive when corporates make changes will create a very challenging workload, it has been said.
Aviva has created a new pension skill for Amazon Alexa that allows customers to find out how much they have saved towards their retirement.
PP has compiled a list of what to watch out for over the coming months.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.