Socialist Worker

Barclays bank workers ballot over final salary pension

Issue No. 2161

Some 25,000 Unite members at Barclays bank are about to ballot over the bank’s decision to close its final salary pension scheme.

The bank is the first to target existing members – all the major banks have closed their schemes for new members.

In a consultative ballot 92 percent were in favour of a strike ballot over what is in effect a pay cut by stealth.

Derek Simpson, Unite joint general secretary, said, “It is unacceptable that Barclays are proposing this unilateral change to workers’ pensions.

Unite members will not stand by as their employer rides roughshod over their retirement security.”

Simpson added that the ballot at Barclays would send a “strong message” to other companies, “Unite will not accept businesses using the economic downturn as a means to erode the important terms and conditions of our members.”


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Tue 21 Jul 2009, 18:32 BST
Issue No. 2161
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