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BMW Workers in U.K. Accept Pension Offer
BMW AG workers at four manufacturing sites in England have overwhelmingly accepted the company’s updated offer to transition them to a defined contribution pension plan.
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BMW AG workers at four manufacturing sites in England have overwhelmingly accepted the company’s updated offer to transition them to a defined contribution pension plan.
The new scheme gives some 3,500 employees more flexibility about choosing between £25,000 contributed by BMW to the new pension plan and transitional payments totaling £22,000 ($28,300) over three years.
The workers, who are represented by the U.K.’s Unite union, have been threatening since early April to conduct a series of strikes at BMW’s Mini, Rolls-Royce and engine plants.
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