Ben Doonigan
There are (or at least were last time I saw it!) two motions on the table:-
1) the members support the BEC to continue negotiations with the management over the issue of pensions, and
2) the members DO NOT support the BEC to continue negotiations with the management over the issues of pensions.
Can't remember the exact wording but that was the basic gist of it and as far as I can interpret it, it effectively amounts to a vote of no-confidence.
Personally I would defintely vote for 1 because, if it does come back as a NO vote, I can't think of anyone better placed to go back to the table to continue negotiations on our behalf. I fully support the union and do think that, based on the information given by management, they have negotiated the best deal available. The key phrase there though is "based on the information given by the management" and that being said, i'm still voting NO because I don't believe management have been totally honest in their dealings with the union and have been bordering on negligent in their handling of it by paying less than required, regardless of trustees advice!!
And all the yes voters who are asking for alternatives...here's one...rather than a pensionable earnings cap, what about a 15 year paydeal of RPI+0.5%??? Would you vote for this?!? It has the exact same effect as the pensionable earnings cap in terms of letting actuaries more accurately calculate underlying rates, and apparently the union have repeatedly asked the management for this instead (because obviously it would make the deal much more appealing to the membership as then everything gained in any payrise will be pensionable!!) The management, however, know that this would ultimately not be as cost-efficient for them and therefore may impact on the profits and, ultimately, the financial-health-of-the-company-related bonuses that they are due to receive upon completion of this deal!! This deal (instead of the cap) would certainly make it look more appealing to me, but that being said, i'd still vote NO because I honestly don't believe that the cap is the most important issue here...it's closing the scheme to new entrants which really worries me, and we all seem to have been sidetracked by something which everyone agrees isn't going to have a major impact on us!!
I would say their refusal of this offer is yet another indication of how the management have got nothing like our best interests at heart, because if that was the case, they'd snap up this 15 year pay offer, reduce the underlying cost
and leave our entire salary pensionable and not the (potentially) less than final salary scheme on offer.
As for becoming a union rep...I am giving it serious consideration!! Not because I think I could a better job mind, but because I want to take a more active interest in what's going on that affects my colleagues and I!! That and I personally just like a good argument!!!
FB
