Unite reaction to Barclays attack on staff pensions

Unite reaction to Barclays attack on staff pensions

Unite reaction to Barclays attack on staff pensions

Rob MacGregor, Unite National Officer said: “There will be deep anger amongst the 18,000 staff who have today (Wednesday 3rd) been notified that Barclays is proposing that the final salary pension scheme is totally closed.

“Unite views this proposal as a break in the promise by Barclays to their workforce that they will not put profits before people. This attack on the pensions of the loyal and hard-working staff at the bank is utterly alarming. The union is urging the bank not to establish this change.

“Unite will now consult with our members within Barclays in order to assess the union’s next steps.”

– Ends –

For more information contact: Saba Mozakka, Unite press office on: 020 7420 8916 or 07768 693 953

– Notes to editors –

Barclays in proposing that the final salary pension scheme will close from December 2009. Therefore no longer take into account future service for pension calculations.

Although the scheme was closed to new entrants in 1997 thousands of existing staff have continued to accrue pension rights and will now have the option of joining in the state scheme or a less rewarding defined contribution scheme.