Printer Friendly

Former Alstom workers have pension hopes dashed again.

London -- London, May 16 /PRNewswire/ -- Workers at the former Alstom plant in Lincoln have learnt from a company website that they face further swingeing pension cuts.

Despite assurances from Alstom, who sold the gas turbine site to Siemans last month, workers have discovered through a letter from David Curtis, Alstoms' International Director of Pensions, posted on the company's website that workers applying for early retirement faced a further 20% cut in their pensions.

Workers who retire before 65 already face pension losses of 30% and have been kept totally in the dark over the new plans.

Joint General Secretary Derek Simpson said:

"Workers are justifiably angry about their shrinking pensions packages and the fact that they have had no opportunity to be involved in negotiations on the future of their pension arrangements. Alstom have treated their former employees very shoddily."

The changes came into effect on 1st May and were discovered on the Alstom intranet pension website on 8th May 2003.

Only 5% of the 2,300 workers at the site carry on working until the age of 65 so these changes will make a massive difference to workers' pensions.

Siemans have said they are committed to working with Alstom and workers at the plant to find a solution to the scheme.

A delegation of six shop stewards from Lincoln are travelling to London on Monday to the office of the Alstom Pension Actuary, in the hope of talking to Alstom Trustees who are attending a meeting there.

The meeting takes place at Watson Wyatt, 21 Tothill Street at 10.30 am on Monday 19th May.

Amicus will also be protesting about workers pension cuts at the Alstom AGM on 2nd July.

For information contact Catherine Bithell on +44 020 7420 8909 or +44 07958 473 224
COPYRIGHT 2003 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 16, 2003
Previous Article:'Not tonight dear, my asthma's playing up!'.
Next Article:Mountain Winery to Share Its Stunning View With Educational, Nonprofit Groups Serving Youth; First program will give 60 kids a different view of the...

Related Articles
JOB LOSS SHOCK AT ALSTOM; More than 200 face axe.
Dealership owner change.
Alstom attacked by unions over job cuts.
Amicus takes campaign Alstom campaign to Whitehall.
SHARES DIP FEARS FOR WORKERS AT ALSTOM; Attempt to suspend trading at troubled company.
Alstom facing pounds 1m pay-out over plant closure.
More delays for ASW men.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters