Thousands of loyal AA workers face a retirement ‘nightmare’ as bosses begin consultation to closing the current pension scheme.
The breakdown service today announced to staff they have started consultation on closing their current CARE pension scheme and replacing it with a defined benefit scheme.
As a result, hard-working AA staff – many of whom have given decades of their life to the company – will see their pension pots exposed to stock market flutters.
Hundreds of AA staff have been cut, with remaining workers subjected to intolerable targets and pressure, since the company was bought out by private equity asset strippers in 2006.
Paul Maloney, GMB Regional Secretary, said:
“The current pension scheme meant our members could look forward to retirement with a degree of certainty.
“Now they face a nightmare with their income varying wildly as a result of stock market fluctuations.
“For many workers this will leave their retirement dreams in tatters – all thanks to the miserly actions of money-grubbing AA bosses, desperately trying to service huge debts which should never have been allowed to accrue in the first place.
“GMB has requested urgent meetings with the company in order to get a better understanding of the proposed changes and will fight tooth and nail for our members’ futures.”
