Unions blasts bank over rising cost of pensions
The lender – which, along with Yorkshire Bank, forms the UK arm of National Australia Bank (NAB) – said members of the presently non‑contributory, defined-benefit pension scheme will have to pay 3 per cent of their salary in 2012, going up to 9 per cent two years later.
It is a further blow to workers at the group, where the final-salary pension scheme was shut down in 2006 to be replaced with a less-attractive career‑average scheme. However, that scheme was still non‑contributory when it was introduced.
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Hide AdBanking union Unite hit out at the timing of the latest changes at Clydesdale, where the average salary is £29,000.
Unite national officer David Fleming said the move would “trigger hardship for employees” and was a “real blow”. He said it was wrong “to introduce changes that will require staff at National Australia Bank to ultimately