• Monday, May 16, 2022

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Steel workers’ union back Tata Steel’s UK pension plan

The Tata Steel UK saga finally looks to be reaching a conclusion.

By: Eastern Eye Staff

UK Steel workers’ unions have given their backing to Indian conglomerate Tata Steel UK’s pension plan in a bid to rescue thousands of jobs and allow a merger with German major ThyssenKrupp to go ahead. Union representatives held a meeting on Thursday (27) to discuss the changes announced, which would see the British Steel Pension Scheme (BSPS) close to future accrual and replaced with a defined contribution scheme. “We do not make this recommendation lightly. Nobody is saying that the proposal on the table is without issues. We fully understand the concerns of members, particularly around the British Steel Pension…

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