Tata Steel Workers Back New Pension Plan

Thousands of Tata steelworkers have overwhelmingly backed a deal on the future of their pensions.

They were asked whether they would accept moving from a final salary pension to a less generous scheme. Members of three unions who work at sites in Wales, Scotland, South Yorkshire and Teesside all supported the new proposals.

Under the proposed changes, the British Steel Pension Scheme will close and be replaced with a defined contribution scheme with maximum contributions of 10% from Tata and 6% from workers.

It is hoped the vote will bring to an end a lengthy period of uncertainty for thousands of workers who faced losing their jobs when Tata's UK business was put up for sale in 2016.

The government welcomed the result of the vote. A spokesperson said:

"This positive vote is an important step forward for the future of Port Talbot and Tata Steel in the UK and it is now vital that all parties work together to deliver on the agreed proposals.

"It is testament to the commitment of its workforce that they are willing to work so constructively with the owners to secure the future of the plant. The government will play its role in supporting the steel industry to help deliver a sustainable future."

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