Lloyds Banking Group (LBG) workers may strike over the group's decision to remove inflation protection from its defined benefit (DB) pension schemes.
Earlier this month, LBG launched a consultation to axe the 2% annual uprating of future payouts from all of its six closed DB schemes, after it claimed two thirds of its pension costs focused on the one third of employees who are in final salary schemes.
Unite called for Lloyds to keep the 2% uprating in place. In a statement Accord, the internal union formerly for HBOS workers and now open to all LBG employees, said it will ballot members on strike action.
Accord said scheme members "have been in touch to express their feelings of anger and betrayal".
"Members who are not fortunate enough to belong to the DB scheme are also worried because, if the bank can break its promises to its longest serving and loyal employees about their pensions, then what is safe in terms of conditions of employment and other benefits?" the union said.
"The principle executive council [of Accord] has noted the calls from some members for an industrial action ballot on the issues that are linked to the loss of trust in the bank but, before taking this step, is calling for the bank to reconsider its proposals and to resume negotiations with the unions," the union said.
Accord said its council will meet again at the end of the month to consider a ballot for industrial action including strikes.
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