Monday 26 November 2007

Telent pensions - who do you believe?

The saga of the Pensions Corporation's efforts to raid the pensions of GEC, Marconi and Telent employees continues.

Despite pressure from UNITE and a helpful ruling from the Pensions Regulator, the takeover of Telent by the Pensions Corporation did go ahead.

The new owners want to present the picture as all roses, as this BBC report reflects. You don't have to look far to find out that not everyone's minds are at rest yet. The very same day UNITE issued this press release, and the web site Global Pensions still reports difficulties.

Of course the other major worry with this takeover is for jobs. The name of the company "Pensions Corporation" gives you a clue that their business interests might not be quite the same as what Telent's were.

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