KCOM Pensions Update

The collective consultation period with KCOM Group with regard to their proposed pension changes has now closed.

Despite the best efforts of Prospect, KCOM were unwilling to fundamentally alter their original proposals, despite our reasoned attempt to demonstrate alternative routes that would not have had the same financial impact on members of some of the variety of KCOM’s pension schemes, specifically the final salary schemes and the Omnetica scheme. You can read the company’s letter detailing the close of the collective consultation, by clicking on the link to the right of this page.

We worked with the GMB and employee reps (many of whom are Prospect members) in seeking to get improvements from the company. For those members of the final salary pension schemes and the Omnetica scheme we did persuade the company to extend the period of top-up payments from 1 year to 3 years. Whilst not ideal this is likely to provide several thousands of pounds of payments to those individuals. However, to get this top-up members of these schemes need to consent to the pension changes by 12 June 2010.

It may be the case that some individuals within these schemes are unclear on the requirement to consent to changes by the 12th June 2010. Following representations the company have agreed to allow individual consultation for those who want it:

‘if any employee wishes to have an individual consultation meeting before consenting, they should advise their line manager and HR representative no later than 12th June. We will arrange individual consultation meetings week commencing 14th June and respond on an individual basis. Employees will have some time afterwards to consider their position and decide if they want to consent to these changes. During this time they will still receive the top up if they consent to the changes. Where we have not heard from employees requesting individual consultation meetings, the deadline of the 12th will still apply. Naturally we will show flexibility with employees who may be on holiday for example.’

If you wish to take this opportunity up please contact your line manager and HR representative before the 12 June 2010.

During this process Prospect has led discussions with the company, produced counter-proposals, held meetings with members at the KC Stadium, provided updates to members, drafted a survey and advised individuals.

It is only through the dedication of members that we have been able to achieve the changes to the company’s proposals that we have. It is vital that members seek to recruit colleagues to the union. There is simply no guarantee that there will be no further detrimental changes to terms and conditions, and it is only through your active involvement with the union and recruiting non-members that we have the best chance to help support you.