BMW Group bosses are meeting with Unite union today 22 March 2017, to come to an agreement on its ongoing pension dispute.

The talks follow two days of discussions earlier this month, 6 and 7 March and continued industrial action on 15 March over BMW’s pension scheme closure plans.

Unite has accused the carmaker for attempting to “buy car workers off” with a £7,000 payment to give up their defined benefit pension and has warned that it needs to start listening to workers’ concerns regarding the scheme’s termination.

The termination of the BMW occupational scheme, scheduled for 31 May 2017, could see some of the firm’s UK workforce lose up to £160,000 in retirement income.

The current ballot involving workers at Cowley, Farnborough, Goodwood, Hams Hall and Swindon closes on Friday 31 March.

It emerged in September 2016 that the car manufacturer planned to close both final salary pension schemes and transfer existing members to a DC scheme which was launched in 2014 and already has around 2,000 members.

Unite national officer Tony Murphy said: “BMW Group needs to negotiate meaningfully to break the impasse and avoid the looming prospect of industrial action.

“Trying to buy off car workers to give up their pensions with a derisory £7,000 is an insult to workers who could lose up to £160,000 in retirement income if the pension scheme closes. This ‘buy off’ is money which will be clawed back from workers at a later date by BMW and amounts to nothing more than smoke and mirrors.

“BMW Group can well afford to keep its pension promises and do the right thing by a workforce which has contributed massively to the carmaker’s success. We urge BMW bosses to work seriously with Unite to resolve this dispute for the good of the workforce and the good of the business.”

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