STEELWORKERS overwhelmingly voted for changes to their pension scheme yesterday following promises of new investment in the industry.

Following a 3-1 endorsement by the Unite, GMB and Community unions, Tata Steel bosses will now close the British Steel Pension Scheme to future accrual on March 31.

A new defined contribution pension scheme with maximum employer contributions of 10 per cent will be offered, based on workers stumping up 6 per cent of their wages.

Bosses had proposed a scheme where both sides contributed 3 per cent.

Community general secretary Roy Rickhuss said: “Steelworkers have taken a tough decision and have shown they are determined to safeguard jobs and secure the long-term future of steelmaking.”

Indian conglomerate Tata said last year it would sell its business in Britain, but it has since decided to seek a partner and has been in talks with Germany’s ThyssenKrupp.

GMB national officer Dave Hulse said: “Now that steelworkers have done their bit, it is time for the government to step up and do theirs.

“Thousands of skilled jobs rely on steelmaking and the industry supports the whole UK manufacturing sector.

“Instead of insulting steelworkers by classing their industry as a low priority, the government should set out a strategy for steel that recognises it as a high priority for investment and innovation.”

Unite’s Tony Brady added: “Those sacrifices must be repaid by Tata Steel honouring its commitments on investment and job security. Nothing less would be a betrayal and add to the deep mistrust that steelworkers now have for the company.”

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