It is reported that delegates at the Trades Union Congress conference have backed a motion calling on steel giant Corus to stop plans to cut defined benefit pensions.

The community union said that employers were using the recession as an excuse to close final salary schemes and called on members of the TUC to support all efforts to defend DB schemes as the best alternative to poverty in old age.

The union is currently in dispute with Corus over the future of the British Steel Pension Scheme. It said it is working to protect the 160,000 members of the fund.

Mr Michael Leahy general secretary of Community said that "Community union is calling upon all trade unionists to draw a line in the sand and refuse any further cuts to the safety of their retirement. Companies too often take a knee jerk reaction to dips in the market regardless of the long term stability of pension funds. It is time to put people before profits and ensure that after a lifetime of labor, people are fairly rewarded in retirement."

Corus has announced plans to close the BSPS to new members. Community held a walkout on September 3rd 2009 to protest about management's refusal to hold open and honest discussion around proposed changes to the pension scheme.

The union said it was refusing to rule out industrial action at this stage.

(Sourced from www.professionalpensions.com)