Steelworkers accept Tata Steel's pensions overhaul to save jobs

Michael Klimes
clock • 3 min read

Tata Steel's proposal to close the British Steel Pension Scheme (BSPS) and replace it with a defined contribution (DC) plan has been accepted by steelworkers.

In a consultative ballot, more than 70% of members from three unions accepted the plan to close the defined benefit (DB) scheme to future accrual. It also includes a new DC scheme with 10% maximum ...

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