Details of a deal between management at British Telecom and the CWU union over the future of the company’s pension scheme were emerging as Socialist Worker went to press.
The deal is shoddy and activists should fight for it to be rejected in the union’s ballot, which is set to open on 24 November.
The CWU has agreed to recommend changes which will see the retirement age raised from 60 to 65 for those in the final salary scheme.
The proposal will also see employee contributions rise, while the company lowers its own contributions to the pensions of some employees.
There is also a threat to move all future accruals of benefits on to a career average basis, rather than the final average salary measure that is used currently.
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