Unite at Unisys
Unisys attacks final salary pension scheme
A proposal by Unisys Ltd to close down its
final salary pension scheme by the end of November has left around
600 staff (almost half of the UK workforce) feeling seriously let
down by the Company.
This proposal follows the lead of the Unisys
Corporation which closed the US final salary scheme at the end of
2006 and made a $45 million ‘pension plan curtailment gain’ in the
first quarter of 2007 as a result.
The Company has proposed a minor enhancement
to its UK money purchase scheme and is claiming that this makes it
a ‘suitable and competitive’ alternative to the final salary
scheme. However, this claim is fooling nobody.
The attack on the final salary scheme has come
as a big blow to UK staff, who have suffered from minimal or zero
pay increases and heavy job cuts in recent years and have far worse
redundancy terms than either of the Company’s subsidiaries in the
UK (UISL and IPSL).
The subsidiaries have yet to be hit with the
withdrawal of their final salary schemes and IPSL, which is a joint
venture with several major banks, has declined to close the scheme.
However, a small number of staff have been caught up in the Unisys
proposal and Unite (which is recognised in IPSL, and UISL) is
campaigning hard to protect them.
The Union is also campaigning hard to resist
the closure in Unisys Ltd, despite not being recognised by the
Company. Our campaign is doing wonders for our membership efforts
and will hopefully not only be successful in defending the final
salary scheme but will assist our recognition efforts as well.
Any Reps who have friends or contacts in
Unisys Ltd is asked to encourage them to join the Union.
