ITN pensions

Union members at ITN postponed the strike action planned in January after management "significantly improved" their offer over staff pensions.

At a joint shops committee meeting the offer was recommended by the staff unions and put to a ballot (which closed on 30 January). The company dropped its proposal to cap annual pension increases at 2.5% (keeping the cap on increases at 5%), and agreed to set a new pension retirement age of 63 rather than 65. Member contributions would increase by 2% and there would be a "merger" of accrual rates of 50ths down to 60ths.