Pension ballot result

The ballot of Unite members in the Defined Benefit pension scheme within the bargaining unit has concluded and the result is  as follows:

Ballots returned – 67.37%

In favour – 35.16%

Against – 64.84%

The company has been advised of the result.

Whilst this is a clear no vote against the company offer, the Unite in AXA National Company Committee  is of the view that although the company action is obviously hugely unpopular, that given the number of ballot papers not returned (over 30%) and the size of the no vote, it does not give a large enough mandate to enable us to consider any further action on this matter.

Dear Paul

A number of members have asked us to provide template for an email that they could send directly to AXA UK Group CEO Paul Evans to make him aware of their objection to the plans to the proposed closure of the Defined Benefit pension scheme.

This is a very good idea ensuring that the man ultimately making the decision understands how staff feel about the plan and the individual impact on his long serving employees.

A suggested template wording for you to copy can be found here. Please feel free to personalise it as you feel appropriate.

You may also wish to email your operating company CEO as well using this template.

Given the size of the AXA Group as a global insurance company, many people have questioned the need for the company to close the pension scheme. With this in mind  we have also produced a template wording for AXA Group CEO Henri de Castries which impacted staff may wish to use to register their opinion with the global group leader. That template can be found here.

Whilst we would encourage any impacted employee to write to both Paul and Henri, we would remind people that, whilst appreciating that many of you are very angry and adversely impacted, to remain polite in what you write.

Directors’ pension pots 26x that of staff

The TUC’s latest Pensions Watch survey, which analyses the pension arrangements of 329 directors from 102 top UK companies, showed that the average value of a director’s pension was 26 times higher than that of staff.

Also, whilst most companies are moving away from defined benefit schemes for staff, the survey found that nearly two-thirds of companies continue to provide defined benefit schemes for at least some directors.

You can read more on this news item here.