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THOUSANDS of Asda workers face having their employer’s pension contributions cut to the legal minimum, trade union GMB has warned.
Britain’s third-biggest supermarket chain plans to cut payments to workers’ pensions to 1 per cent, instead of matching employees’ contributions of 2 or 3 per cent.
Asda is owned by US corporation Walmart. It has 160,000 staff and raked in £791 million in profits last year. Its slogan is: “Save money, live better.”
GMB reps will meet Walmart officials tomorrow. The union says it is willing to challenge the cut in court.
National officer Gary Carter pointed out that “Tesco, Sainsbury’s, Morrisons and [the] Co-op all contribute more into their employees’ pensions.”
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