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ANGLIAN Water is “seeking confrontation” by refusing to enter talks over the proposed closure of its final-salary pension scheme, unions said today.
The company was accused of “attacking the hard-earned pensions of workers” and seeking to provoke strike action after it refused to agree to talks at conciliation service Acas.
More than 5,000 Anglian Water workers will be affected by the pension scheme’s proposed closure, which could see some losing up to £100,000 if the new planned defined contribution pension scheme fails to deliver.
The 1,300 affected have been offered a one-off payment of £600, which Unite dismissed as “derisory” and an “insult to a loyal workforce,” given that shareholders receive millions of pounds.
A further 3,700 workers stand to be affected by proposed changes to a separate defined-contribution scheme.
Unite, GMB and Unison held a last-ditch meeting yesterday with Anglian Water chief executive Peter Simpson, who told the unions to ballot for industrial action as he would not attend any meetings at Acas.
Anglian Water paid more than £320 million in dividends to shareholders in 2016-17 while paying no corporation tax, even receiving a £100m tax credit through interest payments on intercompany loans.
Mr Simpson raked in a total pay and pension package of £1.5m in that financial year and £2.3m in 2015-16.
This year, Anglian Water’s top four executive directors are on course to trouser a cool £3.7m.
Unite regional officer Adam Oakes said: “Anglian Water bosses are pocketing millions in pay while hiking up bills for customers and attacking the hard-earned pensions of workers.
“Rather than entering into talks, management is trying to railroad through pension changes which could see some lose up to £100,000 in retirement income.”
GMB regional officer Michael Ainsley said he had written to the work and pensions select committee asking it to “look into this scandal, as the company are ignoring the union members’ rejection of their proposals.”
He added: “This is about a transfer of wealth from customers, taxpayers and staff to shareholders and, is to my mind, as much asset-stripping as would be selling off reservoirs, buildings or land.”
An Anglian Water spokeswoman claimed that, according to its calculations, most workers would be just as well off or better under the changes, adding: “We simply do not believe the unions have support for their position.”
