ITN staff pledge to resist 'damaging' pension changes

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The NUJ was expected to hold a meeting with ITN staff on Wednesday after the news organisation proposed "very damaging" changes to its final salary pension scheme.

ITN has started a 60-day consultation period with the unions Bectu and the NUJ, with a view to introducing the changes to the scheme in January 2007.

The NUJ's broadcasting organiser Paul McLaughlin told Press Gazette: "ITN's plans are completely unnecessary and will be resisted strongly. We do not understand, given that the scheme is in surplus, why ITN is behaving this way."

The company proposes to increase the normal retirement age from 60 to 65.

The accrual rate will be standardised at 1/60th of final salary per year of service for all staff — currently around one third of staff accrue their pension at 1/50th per year.

The organisation also intends to cap future pension rises to 2.5 per cent per year or the retail prices index, whichever is the lower. The current arrangement is 5 per cent or RPI.

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