Tata Steel approaches British agency to resolve pension dispute
Post Date: 16 Jun 2015 Viewed: 399
Tata Steel UK has approached ACAS (Advisory, Conciliation and Arbitration Service) of the U.K. to resolve the ongoing pension dispute with its U.K. trade unions.
“We have contacted ACAS to bring in independent expertise in mediating a resolution to the U.K. pension dispute,” Tor Farquhar, ED, Human Resources, Tata Steel Europe, said in a statement. “We have requested ACAS to immediately approach the National Trade Union Steel Coordinating Committee to ask them to attend talks.”
A week ago, four unions, which are representing Tata Steel UK employees — Unite, Community, Union of Construction, Allied Trades & Technicians and GMB — had announced industrial action from June 16. The company has been talking to the trade unions since November 2014 to develop ‘a fair and sustainable’ pension scheme for its U.K. employees.
“The company and unions agree that changes need to be made to tackle the scheme’s projected shortfall of 2 billion pounds,” Mr. Farquhar said adding, “it remains the company’s intention to provide a high quality and competitive pension scheme for our employees while continuing Tata Steel’s significant record of investing in its U.K. assets.”