Turner and Newall to Take Pensions Fight to Labour Conference

LONDON, September 29, 2004; Hundreds of workers, including Turner and Newall pensioners, who either lost or are in danger of losing their pensions through company insolvency are taking their fight to the streets of Brighton tomorrow in a bid to get the Government to act.

Pension scheme members from companies United Engineering Forgings (UEF) and Associated Steel and Wire (ASW) who lost all or substantial parts of their pensions when their companies became insolvent will be joined by workers from Turner and Newall plants Chapel-en-le-Frith, Bradford and Rochdale.

40,000 Turner and Newall pension scheme members are facing financial ruin after the decision was taken to freeze their final salary scheme more than two months ago.

Tony Murphy, Amicus' National Officer for the automotive industry, said: "We are here to highlight the terrible plight facing our members at Turner and Newall and those in other companies who have already experienced devastating pension losses.

"We are hopeful that ongoing negotiations will bring about a resolution to the T&N problem but it's a tough time at the moment. These people have paid into final salary schemes throughout their working lives and are now facing destitution through no fault of their own. If everything else fails we would want the government to act quickly to ensure that the Financial Assistance Scheme is extended to ensure that peoples losses are fully covered and so that the Turner and Newall pensioners who fall between this and the new Pension Protection Fund are covered."

John Rouse, T&G National Officer, said: "This cannot become a battle between lawyers over jurisdictions. This is about real people, real lives and their life savings. A solution acceptable to all must be found to restore confidence to the pensions industry."

Up to 40,000 Turner and Newall employees are facing a pensions disaster after UK administrators Kroll, made the decision in July to freeze the final salary scheme of the UK company Turner and Newall. If the scheme is wound up, as looks likely to happen on October, the Turner and Newall scheme will be the largest ever occupational pension scheme wind-up in the UK.

The march will begin at midday on Wednesday 29th September, beginning at Madeira Drive Brighton and ending at the Brighton Conference centre. Members will be available for interview.

Catherine Bithell, Amicus press office, +44-207-420-8909 or +44-7958-473224 Claire Ainsley, T&G press office, +44-207-611-2549 or +44-7976-832169