Strike avoidance the right outcome, says Tata

Hundreds of workers at the firm’s Rotherham plant were set to walk out last week before new proposals were brought forward.

And a spokesman for the firm said the plans would see them retain a modified final salary pension scheme, adding: “The decision recognises the substantial shortfall in the pension fund and the need to jointly address it, given the challenging business environment in the UK. 

“The recommended proposal includes fair and balanced modifications to existing scheme arrangements to achieve this. 

“We believe that the proposal continues to provide employees with a high-quality pension.”

The spokesman added: “The company hopes employees will recognise this recommendation as a positive way forward on pensions provision and one that gives us an opportunity to continue to work together to return the UK business to a profitable and sustainable future.”