Planned strike action brought by members of the Public and Commercial Services union working for The Pensions Regulator has been suspended and staff have returned to work.
PCS members working at TPR had been on strike following disputes over pay since before the start of the year.
The action broke out as members were offered a 3 per cent pay rise while other civil service employers were getting 4.5 per cent.
The suspension of this action has followed “extensive” close engagement and many productive conversations between TPR and the union.
Consequently, PCS and TPR have agreed to work together on the forthcoming 2024/25 pay remit.
As part of this, TPR has committed to secure funding for the full percentage pay increase to the overall pay pot proposed by the 2024/25 Civil Service pay remit guidance and has already engaged with the Department for Work and Pensions on its pay strategy for the year ahead.
Furthermore, TPR has stated it is committed to submitting a pay flexibility case for the pay remit guidance year 2024/25.
TPR will also work with the PCS union on the principles of a pay flexibility case assessing all of the options available.
Additionally, TPR and PCS have said they will engage in "meaningful consultation" on matters relating to TPR’s employee value proposition, including reward, and annual leave entitlement.
These discussions will take place “very soon” and meetings have already been scheduled to take these forward.
TPR concluded by stating that the strike had been a “difficult time for our people” over the last few months and that this breakthrough is an “opportunity for all of us to come together to protect, enhance, and innovate in savers’ interest”.
The regulator also said that it welcomes the suspension of the strike action and “looks forward” to colleagues returning to work and helping the regulator deliver for pension savers.
tom.dunstan@ft.com
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