LONDON: Tata Steel UK has launched a new initiative in its efforts to resolve the pension dispute with its UK trade unions. The company has approached Advisory, Conciliation and Arbitration Service (ACAS) to help facilitate the next phase of talks between the parties, it said in a release.
Tor Farquhar, executive director (human resources) at Tata Steel’s European operations, said, “We have contacted ACAS to bring in independent expertise in mediating a resolution to the UK pension dispute. We have requested ACAS to immediately approach the National Trade Union Steel Coordinating Committee to ask them to attend talks.”
Industrial action, consisting of an overtime ban and a work to rule, is scheduled to start on 16 June, with a one-day strike planned for Monday 22 June.
Farquhar added, “We have been talking to the trade unions since November 2014 to develop a fair and sustainable pension scheme for all UK employees.” The company and unions agree changes need to be made to tackle the scheme’s projected shortfall of up to £2 billion.
It remains the company’s intention to provide a high quality and competitive pension scheme for our employees while continuing Tata Steel’s significant record of investing in its UK assets so we can build a sustainable business here.”
