UEF workers to protest over pension shortfall

Scottish
workers from the insolvent United Engineering Forgings plant in Ayr are to
protest in London today over their pension fund.

UEF
workers will demonstrate outside Prudential’s London offices, following the
discovery in February that their Prudential-run pension fund is under-funded by
between £9m and £12m. Protesters say the shortfall could leave many of them
with a reduction in pension of between 60 and 70 per cent.

T&G
Scotland’s regional secretary Andy Baird said members are concerned that
loopholes in the law can deny workers access to pensions they have contributed
to throughout their working life.

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"T&G
members have been continuously lobbying Prudential and calling upon it to pay
the fully-accrued pensions entitlements to UEF workers, and our union will
continue to call for a full enquiry into how the scheme was underfunded on such
a massive scale and for the Government to ensure the workers receive their full
pension," he said.

By Quentin Reade