Tata Steel approaches ACAS to resolve pension dispute

Mumbai, June 15:

The British arm of Tata Steel on Monday said it has approached the Advisory, Conciliation and Arbitration Service (ACAS) to help facilitate in resolving the pension dispute with its trade unions there.

“We have contacted ACAS to bring in independent expertise in mediating a resolution to the UK pension dispute. We have requested ACAS to immediately approach the National Trade Union Steel Coordinating Committee to ask them to attend talks,” the company’s executive director of human resources, Tor Farquhar, said in a statement.

The industrial action, consisting of an overtime ban and a work to rule, is currently scheduled to start on June 16 with a one-day strike planned for June 22.

“We have been talking to the trade unions since November 2014 to develop a fair and sustainable pension scheme for all UK employees… The company and unions agree that changes need to be made to tackle the scheme’s projected shortfall of up to 2 billion pounds,” he said.

Farquhar said the company wants to build “a sustainable business” in the British lands.

The UK unit of the Indian origin steelmaker had proposed to revise the British Steel Pension Scheme (BSPS) over which the trade unions in the company announced to go for industrial strike on June 22 in objection to the proposed changes.

The unions, however, have shown interest to sort out the issue with the company.

In case the strike takes place, it will be the biggest industrial action in the country in over three decades.(IANS)