O2 Final Salary Scheme Proposed Changes – Ballot

4 February 2011

This important email is intended for all members of Connect sector of Prospect who are members of O2’s final salary pension scheme – either Section 2 or Section 3.

If you were not employed by BT before the creation of O2 then it is extremely unlikely that it will apply to you so please feel free to ignore this communication and the ballot paper.

The union wrote to all members on 15th December (click here to view mem -166/10) describing the recommended outcome of negotiations between the union and O2. We have since held a number of well attended meetings and calls with members and more are due over the coming 2 weeks. Please see attached for further details.

An electronic ballot will be emailed directly to you which we encourage all affected members to complete and return. The question asks “Do you agree to the changes negotiated and recommended on your behalf by your union?”

We are urging members to overwhelmingly endorse the union’s recommendation and vote Yes.

The reasons are contained in our newsletter above.

The ballot will close on 17 February 2011 at 11am and members will be advised of the result the following day.

Following the ballot outcome and assuming members support our recommendation, O2 will ensure that all who want it will receive access to independent financial advice to help them choose the option that best suits their personal financial circumstances. If the reccomendation is supported the changes will take effect from 1st June this year.

Please vote yes to ensure we are able to maintain final salary benefits.