PLANS to “slice” thousands of Swindon Mini plant workers’ pensions under new plans will be fought “tooth-and-claw”, union bosses warned today.

Unite, the union which represents workers at the town’s Stratton St Margaret plant, said they were furious with the announcement German-owned BMW plan to close its two final salary pension schemes to future benefits from June next year.

It will impact 5,000 workers across the country and a strike has not been ruled out.

Bosses have called meetings today with pension committees and shop stewards at all four BMW sites in the country, including Swindon.

Unite national officer for the automotive industries Tony Murphy said it was “clear” members would lose thousands of pounds a year in retirement incomes if the proposals were to go ahead.

“This is plainly unacceptable and Unite will be fighting this proposal tooth-and-claw," he said.

“It is becoming increasingly too easy for highly profitable multi-national companies to energetically salami-slice workers’ pensions in pursuit of even greater profits.

“BMW is blaming both the increase in national insurance payments and the cost of future liabilities as to why the final salary pension has become unaffordable, although, ironically, profits are still rising in the last two quarters.”

A 60-day consultation period is to begin on Thursday.

Workers received a letter notifying them of the changes yesterday.

"They have been trying to stop it for years,” one employee told our sister paper the Oxford Mail.

“A friend of mine has been here 30 years and could lose about £90,000. I am going to be a lot worse off.

“The unions are trying to negotiate and members on the shop floor are asking for strike action if it goes ahead."

Another worker added: "With massive profits and record sales always being reported why do they feel the need to keep taking from the work force?

"They are constantly looking at ways to get more cars while laying off staff and have workers take on more.

"Me and my family are stuck in private renting, paying extortionate rent so unable to save to buy. The only real hope is when we retire but that looks like it might be scuppered now thanks to BMW's penny pinching."

BMW group spokesman Steve Wrelton said: “BMW Group is proposing to close its two UK defined benefit pension schemes to future accrual from 1 June 2017 and this affects around 5,000 staff across all of the company’s UK operations.

"If implemented, all staff would join the company’s market-leading defined contribution scheme. This pension scheme was launched in early 2014 for new starters and now has over 2,000 members.

"Many UK companies have significant pension fund shortfalls in their defined benefit schemes and the cost and risk associated with these schemes is making them increasingly unsustainable and unaffordable for both members and companies.

"BMW Group has always prided itself in providing excellent pensions for its staff and wants to act now to protect future pension provision for all its staff and to help protect the cost competitiveness of the UK as a manufacturing base. The company is now consulting with our employee representative bodies on this proposal.”

Are you affected by the proposed changes? Call our reporter on 01793 501800.