Unite the Union

Unite the Union

September 25, 2007 08:02 ET

UNITE WARNS PURCHASERS OF FORMER GEC/MARCONI COMPANY ON PENSIONS

LONDON, UNITED KINGDOM--(Marketwire - Sept. 25, 2007) - Unite the union representing the UK workforce of Telent has today warned the Pensions Corporation that it will react vigorously to any attempt to raid the GBP 520m pensions escrow account set up to protect existing Telent and former GEC pension scheme members.

This follows today's announcement of the sale of Telent, the surviving services entity of the former Marconi company, to the Guernsey based Pension Corporation.

Telent has 2000 UK employees including a large field force and major sites at Coventry, London and Chorley (Lancashire).

Peter Skyte, Unite National Officer, said:
"This marks the latest move to buy the former Marconi company and we shall be pressing for assurances about job security, the future of pension provision and the long term business intentions of the prospective new owners.

"We will vigorously oppose any attempt to raid the pensions of the current Telent workforce and former employees of GEC and Marconi.

"The pension scheme belongs to the present and former workforce and should not be used as a piggy bank to be raided for short term private gain."


Contact Information

  • Peter Skyte
    07768 931 302
    or
    Ciaran Naidoo
    07768 931 315