ITN pension strike suspended

Industrial action planned at ITN has been suspended as a result of significant improvements to pension scheme proposals.

ITN announced proposals for wholesale changes to its final salaray pension scheme late last year, which were due to take effect from January, including proposals to increase the retirement age from 60 to 65, change the accrual rate from 50ths to 60ths and put a cap of 2.5% on pensions in payment increases.

BECTU and the NUJ balloted their members for industrial action after ITN refused to make improvements to its initial proposals. The ballot received a clear 'yes' vote from both unions and, as a result, the unions gave notice of an intention to take strike action on 16 and 23 January.

At the same time a letter was written to ITN with counter proposals attempting to reach a negotiated settlement.

As a result of the ballot result and the unions' counter proposals, ITN has now responded with new proposals, which include increasing the retirement age from 60 to 63, rather than 65, and retain the existing 5% cap on pensions in payment increases.

In return staff will increase their contributions by 2%.

Union negotiators feel this is a significant improvement and will be recommending members accept the proposals in a ballot to be held shortly.

There will be an ITN Joint Unions Shop meeting at 1400 on Tuesday 16 January 2007 at the London Welsh Centre, 157 Grays Inn Road, London WC1X 8UE, prior to the ballot.

If accepted, the new proposals will come into effect on 1 April 2007.

BECTU's Assistant General Secretary Gerry Morrissey commented: "Clearly ITN management assumed our members would back down over this issue.

"However, they underestimated the strength of feeling amongst members over their pension scheme and we are pleased ITN has been forced to come back to the negotiating table with a significantly better offer."