Stakeholder negotiations under way in construction industry

Construction unions are in negotiations over the setting up of a stakeholder scheme for the industry.

The B&CE Benefits company which currently administers the lump sum retirement scheme will run the stakeholder arrangement.

There are two key areas of negotiation at the moment - what will happen to the existing lump sum scheme and what level of contribution will come from the employers.

Construction union UCATT is arguing that £5 a week is a realistic minimum - employers currently pay £1.90 a week to the lump sum scheme.

George Brumwell, general secretary of construction union UCATT told its Building Worker magazine that "It has got to be a worthwhile scheme. Construction workers deserve to be treated as well as any other group of workers."