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BMW workers accept revised pension deal

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BMW workers in the UK have accepted a revised offer over the closure of their final salary pension scheme, ending the threat of further strikes.The agreement follows a series of stoppages at plants making the Mini and Rolls Royce cars.More than 80% of members of the Unite union approved the deal which affects workers at four sites.The union said it had won a much bigger transitional payment for staff, plus other guarantees.The dispute centred on plans to move workers to a new contribution-based pension scheme, which Unite warned could cost workers up to £160,000 in lost income.There were four walkouts involving workers at plants in Cowley; Goodwood, near Chichester; Hams Hall in the West Midlands; and Swindon. Last month, Unite threatened more strikes after a previous offer was rejected.BMW had initially offered workers transitional payments worth £7,000 in an effort to solve the dispute, but under the revised offer, this will be increased to up to £25,000.Unite national officer Fred Hanna said: “It’s testament to the resolve of Unite members and their solidarity that the carmaker was forced to more than triple these payments and give additional guarantees.”BMW said its employees would join a defined contribution scheme from October 2017 which has a company contribution of up to 16%.A spokesman said: “We believe that our pension proposals are fair and will help to ensure our competitiveness as a business, which is ultimately in the long-term interest of all our employees.”
Source: BBC