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BMW Workers in U.K. Reject Pension Transition Plan
Hourly workers at four BMW AG factories in the U.K. have rejected by a 57% margin a company offer to phase out a previous pension plan and shift workers into defined contribution programs.
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Hourly workers at four BMW AG factories in the U.K. have rejected by a 57% margin a company offer to phase out a previous pension plan and shift workers into defined contribution programs.
BMW is offering to either pay each affected worker £22,000 ($24,700) over three years, subject to tax and national insurance, or move £25,000 ($28,000) into their new defined contribution plans. The offer was to cover workers at Bentley and Mini factories in Cowley, Goodwood, Hams Hall and Swindon.
The Unite trade union, which represents the workers, made no recommendation about the offer but says the vote shows the deal “did not go far enough.” Shop stewards from the four plants plan to meet on Tuesday to discuss next steps.
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