NETWORK RAIL STATEMENT ON TSSA REFERENDUM RESULT

Monday 10 May 2004

NETWORK RAIL STATEMENT ON TSSA REFERENDUM RESULT

Region & Route:: National

Network Rail today welcomed the news that TSSA members had rejected calls for strike action and acknowledged the need to reach a settlement. Almost 2,000 TSSA members were balloted but only 8%, or 153, voted in favour of strike action. Network Rail believes it has put a good offer forward:- · Three inflation-breaking pay rises on the table, with the best at 3.5% · Taken steps to ensure the company’s final salary pension scheme is fully protected for all existing employees · Opened a new company pension to new starters – the best defined contributions scheme in the industry, and one of the best in the market John Armitt, Chief Executive said: “I’m glad that our employees recognise that strike action isn’t the way to settle this dispute. We’ve put some good pay offers on the table but we must now see if we can bring these issues to a close.”

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