Ferry company averts plans to close final salary scheme

Ferry
firm Wightlink has averted plans to scrap its final salary scheme.

The
pensions plan remains open for new employees, after nine out of 10 RMT members
voted in favour of strike action over the threatened closure of the pensions
plan.

The
RMT claims the company has also agreed to review its contributions level
annually. Employee contributions are set to increase 2 per cent to 8.5 per
cent.

Nick
Cole, pensions officer at RMT, said: "We told Wightlink it was
unacceptable for it to enjoy reduced contributions during periods of high
investment returns only to try to close the scheme when the markets were less
buoyant.

"It
is always good to reach agreement without strike action, but there is no doubt
that this victory was made possible by the show of unity by the
workforce."

By Paul Nelson

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