ASDA Retail - Pensions
GMB Officers and GMB Members who are employed at the ASDA Bedford chilled Distribution centre met with the local Bedford & Kempston Member of Parliament - Mohammed Yasin on 1st February to raise their concerns about ASDA's proposed changes to their pension.
GMB members employed at the Kempston site are angry at ASDA's proposal that will see ASDA cut their contribution rates to the LOWEST LEGALLY ALLOWED PENSION from April 2018. ASDA are also proposing reducing the death in service benefit from 4x Annual Salary to 1x Annual Salary.
Mick Lancaster - GMB London Regional Officer and ex-employee of the ASDA Bedford distribution centre says "The pension is designed to encourage workers of today to save for their retirement in the future. It's disappointing that a large profitable company like ASDA reduce their contribution rates to the bare legal requirement. Historically the additional 4x annual salary death in service encouraged workers to join ASDA's pension scheme. I am fearful that ASDA's pension proposal could result in many ASDA workers both in distribution and retail opting out of the pension scheme which will only create a burden on the future UK economy"
ASDA, Self-Claimed “Britain’s Most Trusted Retailer” can afford to provide a good pension, remember they do for their Salaried Colleagues. However, they are choosing to offer this proposal to hourly paid colleagues only.
Mohammed Yasin has agreed to support the opposition of this proposal and will be sending communication to the Labour Shadow Chancellor for Pensions to air our concerns regarding the financial future of our members within ASDA.
It is important that we keep up the pressure and fight together to oppose this minimum pension proposal by visiting www.gmb.org.uk/asda-pension-questionnaire-jan-2018
If you are an affected member seeking representation and support, you can reach GMB at the GMB Members’ Support Centre by visiting: www.gmb-asda.com/support
ASDA Lead Role Officer
GMB London Region