Belfast Telegraph

BMW workers to protest in Munich over plans to close final salary pension scheme

Workers at car giant BMW are to stage a protest in Germany as part of a campaign against plans to close their final salary pension scheme.

Members of Unite will hold a demonstration in Munich on Wednesday, with the union warning that industrial action was a "very real possibility".

The union said closure of the BMW occupational pension scheme by the end of May could see some workers lose up to £160,000 in retirement income.

A ballot for industrial action is being held, with the result due on Friday.

Unite national officer Tony Murphy said: "BMW bosses in Munich need to wake up to the anger their plans to close the occupational pension scheme has generated among loyal UK workers.

"Industrial action is a very real possibility by a workforce which has contributed significantly to the BMW Group's record-breaking profits and sales.

"UK workers feel as though they are being taken for a ride. BMW bosses say, on the one hand, they want to negotiate seriously, but on the other, refuse to talk about affordable options which would keep the scheme open.

"We urge BMW to stop its pension robbery which could see UK workers lose tens of thousands of pounds in retirement income and negotiate a settlement which is good for the business and good for the workforce."

A BMW statement said: "BMW Group has always prided itself in providing excellent pensions for all its staff and wants to act now to protect future pension provision."