ITV’s plan to close the UTV pension scheme has been branded a “sham” by officials at media and entertainment union, Bectu.

The union said that the closure could affect nearly a quarter of UTV employees, and leave each worker “at least £50,000 out of pocket over the course of their retirement”.

Bectu believed that the decision did not honour the terms and conditions offered to members when they began working for the company.

However, UTV, which is owned by ITV, said that the closure is necessary to be “fair to all its employees”.

Bectu negotiator in Northern Ireland, Angela Moffatt, commented: “UTV is seeking to impose detrimental pension changes that will cost Bectu members tens of thousands of pounds over the course of their retirement. This will leave a gaping financial for those hoping to maintain a quality of life after working so hard for UTV.

“We are calling for UTV to defer the implementation of its proposal so that it can properly consider our response. The fairest outcome would be for UTV to honour the pension arrangements our members signed up for.”

The alternative pension arrangement proposed by UTV would set a maximum employer contribution rate of 9 per cent of basic salary.

This is despite ITV chief executive, Carolyn McCall, receiving a pension contribution of £133,000 in 2018, which represents 15 per cent of her basic salary.

Moffatt continued: “If UTV ploughs ahead with its proposal, it should at least share some of the huge savings by compensating the members affected.

“Bectu members are wondering why the maximum employer contribution to the alternative pension scheme they have been offered is 9 per cent while the chief executive of UTV’s parent group gets a 15 per cent pension contribution.

“If the proposal to close the pension scheme is really about fairness, the company should offer the same terms to all its employees.”

Yesterday (26 March), the Business, Energy and Industrial Strategy Committee called for “greater alignment” of the pension contributions of executive and employer pay.

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