Strike Action Suspended As ITN Agree Improved Pension Scheme

Industrial action at ITN has been shelved as a result of "significant improvements" to pension scheme proposals.
ITN announced proposals for wholesale changes to its final salaray pension scheme late last year, which were due to take effect from January, including proposals to increase the retirement age from 60 to 65, change the accrual rate from 50ths to 60ths and put a cap of 2.5% on pensions in payment increases.
Bectu and the NUJ balloted their members for industrial action after ITN declined to make improvements to its initial proposals. The ballot showed 54% members in favour of strike action, with a participation rate of 68 %. As a result, the unions gave notice of an intention to take strike action on 16 and 23 January.
At the same time a letter was written to ITN with counter proposals attempting to reach a negotiated settlement.
As a result of the ballot result and the unions' counter proposals, ITN has now responded with new proposals, which include increasing the retirement age from 60 to 63, rather than 65, and retain the existing 5% cap on pensions in payment increases.
In return staff will increase their contributions by 2%.
Union negotiators feel this is a significant improvement and will be recommending members accept the proposals in a ballot to be held shortly.
There will be an ITN Joint Unions Shop meeting at 1400 on Tuesday 16 January 2007 at the London Welsh Centre, 157 Grays Inn Road, London WC1X 8UE, prior to the ballot.
If accepted, the new proposals will come into effect on 1 April 2007.
Bectu's Assistant General Secretary Gerry Morrissey commented: "We are pleased ITN has been forced to come back to the negotiating table with a significantly better offer."
ITN have not yet released a statement.
(DS/SP)