January 10, 2007 12:05 ET

Amicus reaction to WH Smith pension announcement

LONDON, UNITED KINGDOM--(CCNMatthews - Jan. 10, 2007) -

Amicus National Officer, Ann Field, said:

"This proposal will give WH Smith - a High Street name - back street pensions and pay.

"We are appalled to learn that the two WH Smith companies intend to close their final salary scheme, not least because its' provisions were bad enough but a money purchase scheme will give our members an even poorer return. These workers are already on dreadful rates of pay, with night shift workers earning salaries of just GBP12,700 a year, an equivalent of GBP7 an hour.

"We are disgusted by the fact that the company is the architect of this situation. It awarded itself a ten year pensions holiday in the 1990s and gave no indication during the demerger process just last September that they intended to slash their pension provision. In November the company was publicly congratulating itself on having reduced its pension deficit by a huge amount.

"Amicus will do everything in its power to improve and defend our members pensions."

Amicus represents over half of the approximately 2,500 employees affected.

Contact Information

  • Amicus press office
    Catherine Bithell
    020 7 420 8909 or 07958 473 224