News of the meetings between Community and Corus over the BSPS
Constructive Discussions, Progress – But No Deal Done
Yesterday, the Steel Committee met with Corus to continue our discussions over the future of the BSPS.
The unions made clear their opposition yet again to closing the scheme to new entrants and that we still see it as the thin end of the wedge. We also forcefully made the point that the way Corus had handled this whole issue had generated an enormous amount of mistrust and that it would take an enormous effort on the company’s part to make people confident about the future of their pension scheme.
Some progress was made in our discussions. Corus have continued to hold-off any decision to close the scheme to new entrants.
For the first time, we discussed what alternatives could be considered that would address some of the issues that the BSPS might face in the coming years and would also allay the fears of members.
One option, that is to be investigated and discussed in more detail, is to keep the BSPS open but introduce a ‘nursery scheme’ for new entrants. The unions and Corus could then discuss the conditions where members of the nursery scheme could enter the BSPS.
It was agreed that our pensions experts should investigate what this might look like and we will have a further meeting before the end of this month.
This is by no means a done deal and as unions we know that the devil will be in the detail. The campaign is not yet over and we will keep you updated with further developments
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