Unite attacks BAA over final salary scheme closure

Another one bites the dust. According to one report the company has justified the move that it was made in order to "protect itself and its pensioners from stock market volatility and bring certainty to contribution levels."

Here's the Unite release:

Unite condemns cynical BAA closure of pension scheme
12 Sep 2007

The closure of the BAA final salary scheme to new starters from December was roundly condemned today by Unite, the largest union at the airport operator and Britain's largest union.

"Hundreds, if not thousands, of people are going to join BAA, especially as security workers, to be told they will have a different deal on pensions to those they will work alongside," said Brendan Gold, Unite national secretary for civil air transport.

Describing the decision as "callous and cynical" Mr. Gold said Unite, which has over 4,000 members at BAA including the all-important security workers and fire fighters, will be making its view very clear to the company.

He said the £29 million deficit on the pension fund was relatively little as far as the long-term is concerned.

"There is no financial or rational reason for the Spanish-owned BAA to do what they are doing," continued Mr. Gold. "We are seeking an urgent meeting with the directors to tell them exactly what we think. We will consult our shop stewards across the airport operations to discuss how we campaign against this outrageous and wholly unjustifiable decision."