HRP staff agree pensions offer which sees DB scheme close

Staff working at the Historic Royal Palaces (HRP) have accepted a pensions offer which will see their defined benefit scheme close.

GMB Union, responsible for negotiating the deal, said that it has managed to secure “significant improvements” to the firm’s defined contribution scheme for both current and future members.

Strike action was suspended at the end of last month to review the new offer, which will see HRP’s final salary pension scheme close on 1 April 2019. The scheme closed to new members in 2002.

GMB regional organiser, Michael Ainsley, said: "We are disappointed not to have prevented the closure of the defined benefit pension scheme, however our members have voted to accept this new offer which is considerably better than what was originally on the table.

"Our members can be proud that they stood up and fought hard, they maintained all along that they were prepared to talk and would have preferred that HRP had talked to them before deciding unilaterally to take their pension from them."

The dispute, which has been ongoing since November, saw some of the staff strike for the first time in 55 years.

Pensions Age has contacted HRP for comment.

    Share Story:

Recent Stories

New
New
New

The modern age
Deputy editor Natalie Tuck chats to the ABI’s Yvonne Braun about her work at the ABI and her thoughts on key pension topics

Stepping into the spotlight
Laura Blows speaks to Laird R. Landmann, group managing director and co-director of fixed income at US-based TCW, about the opportunities TCW can provide for UK pension funds