ITN strike called off after pension offer on final salary scheme revised

Tuesday’s strike at news broadcaster ITN has been called off by union officials after a compromise was reached over pensions.

Broadcasting union BECTU  had announced walkouts on 16 and 23 January after ITN announced changes to its final salary pension schemes.

ITN planned to increase the retirement age from 60 to 65, change the accrual rate from 1/50th to 1/60th and put a cap of a 2.5% increase on pensions paid to staff.

However, it has now returned to BECTU with an improved offering, including a retirement age of 63, and the retention of the existing 5% cap on pensions in payment. Union negotiators are recommending members accept the proposals in forthcoming ballots, and both strikes have been suspended.

BECTU assistant general secretary, Gerry Morrissey, said: “Clearly ITN management assumed our members would back down over this issue.

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

Email(Required)

OptOut

From time to time, we will send you emails about selected products, events and services from Personnel Today and OHW+ - but you can choose to opt-out at any time. If you do not wish to receive these emails, please tick this box.

Email

This field is for validation purposes and should be left unchanged.

Δ

“However, they underestimated the strength of feeling among members over their pension scheme, and we are pleased ITN has been forced to come back to the negotiating table with a significantly better offer.”