Defined Benefit  

Unilever plans to close DB scheme

Usdaw national officer Daniel Adams said: “Unilever’s pension scheme is an incredibly well-valued part of our members’ terms and conditions.

"The joint trade unions are clear that we will not just watch the company remove and downgrade its pension provision.”

GMB national officer Eamon O’Hearn said: “The company cannot claim to be a market leader with initiatives like ‘Brands with Purpose’ then decide to follow the market in a race to the bottom in pensions - either Unilever wants to set the standard or follow the crowd.

“This proposal will look to many staff as a lazy shortcut to help achieve the 20 per cent margin by 2020 target the company has set itself, regardless of the fact it would create a two-tier workforce resulting in unnecessary division and resentment across the entire UK business."

amy.austin@ft.com

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