Connected Research

Union policy research in the 21st century

Vodafone seeks to close DB scheme to future service

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Vodafone announced yesterday that it is looking at closing its final salary pension scheme to future accruals from April 2010.

Connect is disappointed that Vodafone has made this decision, which will inevitably lead to members having to contribute more for and receive less in their pension. Nevertheless, the company has signalled its early intention to receive representations from the union on behalf of our members and we will be making strong representations to it.

We do welcome the company’s commitment to improve the standard of the defined contribution scheme.  It is our aim that the company will make improvements to this scheme sufficient to match the benefits that those who currently pay into the final salary scheme would have expected to receive. We will be putting constructive, detailed alternative proposals to the company to this effect as we strive to get the best possible deal for members. We have a wealth of experience of negotiating successfully with employers to deliver solutions in this respect.

Where Connect is recognised, our experience shows that we can have a positive, beneficial influence on company decisions of this type. The message is also clear that there is no better time to be in the union so, if you’re not, join us!

Connect will be holding a meeting for old and new members in Vodafone this coming Thursday.

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Written by Calvin

25/11/2009 at 3:03 pm

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