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Deadline set for progress on FT pensions

Staff at the Financial Times have given the management until the end of the month to propose an acceptable solution to the dispute over pensions, says the National Union of Journalists.

A motion passed by the NUJ chapel said: "The chapel instructs reps to continue to negotiate for an equivalent scheme for members, whether Defined Contribution or Defined Benefit, that honours the FT's previous commitment and instructs NUJ reps to fix a date in February for industrial action if this is not achieved by the end of January."

According to the NUJ, journalists voted by almost 92 per cent in favour of taking strike action in their dispute with the FT and Nikkei, its new owner, over changes to pensions. They condemned the management for failing to honour promises to maintain equivalent terms of employment following the takeover from Pearson and for plans to use £4m from the pensions pot to pay for rent on their building, which is still owned by Pearson, and for other costs.

The chapel dubbed the plans a "pensions robbery". This weekend a delegation from the chapel is going to Japan.