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Don't Water Down Your Staff’s Pensions, Says Alex Mayer MEP

Anglian Water

East of England Labour MEP will send a stern warning to bosses at Anglian Water this Monday 12th March, when she rebukes the planned closures to staff pension schemes. 

Anglian Water has announced the closure of their “Defined Benefits” pension scheme, and dramatic changes to their “Defined Contributions” scheme that will affect 5,000 employees at Anglian Water. 

The biggest losers will be employees with 10 - 15 years service at Anglian Water, who will find their pensions gutted. 

Ms. Mayer will challenge Anglian Water bosses to prove that the current pension scheme is unaffordable, after trade union Unite discovered that the company made an operating profit of £357.8 million in 2016/17, and paid out £320 million in dividends to their shareholders. 

Anglian Water was named in the Panama/Paradise Papers as having a subsidiary in the Cayman Islands, a tidy loophole that has saved them from paying any corporation tax last year. 

Ms. Mayer will say: “It seems to me Anglian water are more concerned about their tax arrangements in the Cayman Islands, than their loyal employees coming up for retirement in Canvey Island. 

"Local staff have contacted me and are rightfully angry. They are quite literally seeing their pension money going down the drain. 

“I am in firm belief that Anglian water can well afford to pay for their staff’s pensions. It is a drop in the ocean for them.”

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