 Workers are voting on suggested pension changes |
Workers at aero-engine maker Rolls-Royce are voting on whether to accept an offer by the company to end a pensions dispute. The company offer, which includes an additional �35m a year for the pension fund, is being strongly recommended by unions.
Earlier this year the company revealed its pension fund was �1bn in the red following heavy stock market losses and announced plans to change the entitlement system in its final salary scheme.
Unions threatened to call strike action, but last month a compromise proposal was reached after talks between union leaders and the company.
'Good offer'
About 18,000 workers at plants across the UK, including Derby, Bristol, Glasgow, East Kilbride, Coventry, Lancashire and Sunderland, are voting on the proposed deal.
The proposal calls for the retention of the final salary scheme and an increase in the company's annual contribution to the pension fund from �60m to �95m a year.
Amicus spokesman Mark Tittley said: "They are stumping up quite a lot more money - �35m a year - and I think it is very good offer.
"The company has done the decent thing by retaining the final salary scheme," he said.
The voting will last a week and results are expected on 16 December.
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