Staff at the Herald group of newspapers are being warned that, if they are part of the company pension scheme, they can expect to have pay more towards the amount they will receive when they retire.
A consultation paper put out by owners, Newsquest, outlines two options, both representing an increase from the current six per cent that is currently the staff contribution.
A ten per cent contribution would protect current benefits and conditions. An eight per cent increase would result in the pension being calculated in 80ths instead of 60ths of the final salary.
The National Union of Journalists says it condemns the move. Last week, the union served notice on the company that it is ballot for industrial action, following compulsory redundancies, affecting five people, announced at the Evening Times newspaper – as part of a budget cut at Newsquest of upto three million pounds.
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