ITN pension moves avert strike action

ITN has amended proposed changes to its pension scheme which has averted proposed industrial action from journalists in the NUJ.

The broadcaster had proposed changes to its final salary pension scheme last year, which were due to take effect from January.

Under the plans, the retirement age would have been increased from 60 to 65, the pension accrual rate changed to 1/60th of final salary per year of service for all staff – instead of the current 1/50th – and a cap of 2.5 per cent was put on future pensions rises.

ITN responded last week with new proposals that included increasing the retirement age from 60 to 63 and retaining the existing 5 per cent cap on pensions in payment increases. In return, staff will increase their contributions by 2 per cent.

Joint union negotiators said they felt that the move by ITN was a significant improvement and will be recommending members accept the proposals in a ballot to be held shortly.