Gas company ‘to close final salary pension scheme’

The
Transport and General Workers Union claims that gas company BOC is to close its
final salary pension scheme to new entrants.

The
union reports internal consultations are taking place at the firm over closing
entry to the scheme.

Jimmy
Elsby, T&G assistant general secretary, who heads up the union’s
manufacturing taskforce, said: "Once again we see a blue chip British
company trying to sort out its problems by transferring the risks of future
pensions provision to its workers. The two-tier pension is being considered
again.

"We
have had a good relationship with BOC over the years and are surprised at this
decision. As a consequence, the union will be seeking an urgent meeting to
discuss the exact nature and scope of this internal review.

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"Our
starting point will be that everything should be done to avoid closure of the
scheme to new entrants."

By Paul Nelson