Unions condemn ITV's plans to close pension scheme
7 September 2016
Unions at ITV – the NUJ, Bectu and Unite – have reacted angrily to the company's plans to close its defined benefits pension scheme to future accruals.
They are seeking a meeting with the pension trustees following a "disappointing" meeting with management on 5 September. ITV management was criticised for failing to provide sufficient information on the proposal, including the numbers of deferred and active pensioners.
The company's pension proposals were released to staff and unions in July, just days before confirmation that company profits had risen by 9 per cent to £425m in the first half of 2016.
Adam Crozier, ITV's chief executive, said ITV would be targeting £25m in cost savings in 2017 because of fears of uncertainty sparked by the UK's decision to quit the European Union.
Sue Harris, NUJ broadcasting organiser, said:
"ITV is thriving and in healthy profit. So for it to make this announcement, at the height of summer when many staff were on holiday, is both puzzling and cynical. Management was unable to give us any proper information or justification for the proposed change.
"While the press is reporting that Ant and Dec are close to signing a £30m contract with ITV, many of our long-standing members, who have stuck with the broadcaster through thin and thick, are now being kicked in the teeth by this deal which will put their retirement plans in jeopardy.
"We will be consulting with our members and intend to make a very strong case against the plans."