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19 November, 2002The UK union calls the deal a "benchmark for British industry".
GREAT BRITAIN: The Transport and General Workers' Union (T&G), a member of the IMF British Section, has hailed their new contract settlement with Ford Motor Co. as a "benchmark for British industry". Negotiations were completed on November 19.
The 22,000 Ford UK workers covered by the deal will receive a wage hike amounting to 7.1% over two years and will benefit from an enhanced final salary pension scheme and improved family-friendly policies. Pay will increase by 4 per cent in the first year of the contract, and 3 per cent or the rate of inflation plus 0.5 per cent, whichever is higher, in the second year.
The T&G was particularly pleased with improvements to what was already considered a top-class pension scheme. The union announced that by consolidating the lower earnings limit, employees' pension pay each month will be increased. In addition to these gains, family-friendly improvements include maternity leave at 52 weeks on full basic pay, paternity leave at 2 weeks on full basic pay, and adoption leave of a minimum of 2 weeks on full basic pay.