Unite has accused Britain’s biggest pensions provider, Aviva, of stabbing its employees in the back over plans which will wipe thousands of pounds off their retirement incomes. Aviva, formerly Norwich Union, will close its final salary pension scheme, transferring 7,600 staff to a less lucrative “money purchase arrangement”, a form of defined contribution pension, in April next year.
Siobhan Endean, Unite’s national officer for finance, who is demanding talks with the company, said: “Aviva remains a highly profitable company and what it has done is stab hard-working staff in the back who could now lose thousands of pounds in pension benefits to live on during their retirement. It is a betrayal – as employees regard a final salary scheme as deferred pay for years of loyal service.”
