Unite Union has condemned "opportunistic" plans to close the Nissan defined benefit (DB) pension scheme for workers at the firm's Sunderland plant.

The union argued that the move would be “extremely disappointing” for the “hundreds of loyal workers” affected.

It emphasised that it would not "stand by and let this happen", especially as Nissan has apparently signalled that an "industry standard" lump sum payment in return for accepting the scheme closure is "off the table".

However, Nissan stated that the DB scheme had “grown to unsustainable levels”, explaining that the move was intended to balance employee benefits with long-term sustainability.

A Nissan spokesperson stated: “We aim to provide competitive benefits to our highly valued staff, but these have to be balanced with the long term sustainability of our business. The level of company investment needed to maintain the defined benefit pension plan has grown to unsustainable levels.

“This planned consultation is not a short-term action. It is based on the formal valuation of the scheme carried out in April 2018, and is the next step in a long term process.

“For this reason we are in discussions with affected employees and their representatives about the proposed closure of the plan.”

The union previously said that proposed efficiency plans should not be used as "an excuse to attack staff terms and conditions".

“Due to the timing we see this as an opportunistic attempt to push through long sought-after changes that will have a damaging impact on our members’ plans and financial security in retirement," emphasised Unite national officer for automotive, Steve Bush.

He continued: “Unite is more than willing to help Nissan recalibrate to a changing world but this must not come at the expense of our members’ jobs, terms and conditions or other benefits.

"In the coming days we will be seeking our members views and be sitting down with the company to find a positive way forward for all.”

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