Press Release
Co-Op Funeral Care Workers To Be Consulted On Strike Action Over Merger Of Their Pensions Fund & Reduction In Pension Benefits
5 January 2006
Response of co op funeral unions to proposals from cooperative society to merge 3 pension funds and to introduce reduced pension benefits for all staff.
Phil Davies GMB National Officer and Chair of the trades union side of the Joint Industrial Council for the Co-Op Funeral Care Service said “GMB,TGWU and USDAW met Co- Op senior management today on pensions. Management proposed the merger of the Group Pension scheme, which covers the retail and funeral care staff, with the scheme covering the Co- Op bank staff and CIS Insurance staff alongside the introduction of a new “care” pension scheme for all staff.
The Trades union’s reaction is that not only will the new scheme reduce our members pension benefits, but the merger of the older final salary schemes will massively disadvantage our members. The Group scheme, worth £2.4 billion, is in surplus under any measure. The proposal in effect is to use this surplus to bail out the other two schemes which provide pensions to the better paid employees elsewhere in the organization.
GMB and other unions will convey these proposals to union members in the funeral care service and will consult these members as to whether they are prepared to be balloted to take industrial action to protect their pension benefits.”
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