Live updates

Advertisement

Advertisement

Tata steelworkers vote to accept reforms to their pensions

Credit: Ben Wright/PA Wire

Tata steelworkers have voted to accept reforms to their pensions, unions announced.

The consultative ballots on Tata Steel's proposal on pensions, jobs, investment and production closed at noon today.

All union members were asked if they accepted the proposal, and the results for each union are as follows:

  • Community
  • Turnout: 70.5%
  • Yes: 72.1%
  • No: 27.9%
  • Unite
  • Turnout: 69.2%
  • Yes: 75.6%
  • No: 24.3%
  • GMB
  • Turnout: 51.5%
  • Yes: 74.0%
  • No: 26.0%

Leaders of the three unions recommended acceptance of the changes as the best that could be achieved through negotiation.

The changes include the introduction of a defined contribution (DC) pension scheme, with maximum employer contributions of 10%, following the closure of the British Steel Pension Scheme (BSPS) to future accrual.

Load more updates