British Telecom (BT) workers are growing increasingly angry with company plans to cut back on their pension schemes. The company announced at the end of May that it intends to start a statutory review of the schemes to ensure that they are “sustainable”.
Bosses argue that scheme deficits are too large and that a combination of people living longer and lower returns on investment will make matters worse.
However they make no mention of the years of contribution “holidays” they took during the years when the stock market was high. All union activists should immediately start preparing members for the possibility of struggles ahead.