Skip to content
City PM
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Opinion
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Opinion
Thursday 29 November 2018 6:03 pm  |  Updated:  Monday 03 June 2019 3:08 am

Angry Beefeaters: Historic Royal Palaces staff may take to the picket lines after losing pension scheme

Beefeaters from the Tower of London will vote tomorrow on whether to strike for the first time in more than 50 years in a row over pension cuts.

The iconic guards, as well as Jewel House Wardens and other employees of Historic Royal Palaces (HRP) are set to lose their defined benefit pension schemes, and could be seen manning picket lines in the new year as a result.

HRP plans to replace the scheme with a defined contribution plan, which is cheaper to provide but more risky for employees.

Around 50 GMB union members who kept their defined benefit pension after it closed to new employees in 2002 will vote over a two week period, with potential strikes planned for January.

HRP is in charge of the Tower of London, Kew Palace, Hampton Court Palace, Banqueting House and Kensington Palace.

The closure of the more expensive pension scheme comes despite HRP seeing its highest ever visitor numbers in 2017/18, with 4.733m visits, making up the lion’s share of £92.2m total income.

Mick Ainsley, GMB Regional Officer said members saw the defined benefit scheme as a “critical element of the employment package, and quite rightly put a great value on it”.

“HRP’s decision to close the scheme came as a great surprise. Difficulties or the ability to afford the pension had never been muted before and members just see this attack on their standard of living for the rest of their lives.

“The notion that buildings are more important than the dignity of workers and that the people caring for and responsible for these palaces are not worthy of being cared for in their retirement is quite frankly disgusting.”

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Business
  • Retail

Related Topics

  • Pensions

Trending Articles

  • Top Burnham adviser calls for capital gains and inheritance tax hikes

  • A meeting with the breakfast king of Mayfair

  • Housebuilding giants hit with £4.5bn lawsuit for allegedly overcharging buyers

  • As it happened: Stocks jump on defence and metals boost; Oil on track to shed a fifth on US-Iran peace hopes

  • BT tops FTSE 100 after finding new home for international business with Verizon joint venture

More from City PM

  • Government sets out conditions for unlocking ‘trapped capital’ in defined benefit pension schemes

    Personal Finance
    Dominic Cummings claims China has stolen vast amounts of secret UK material
  • Legal & General handles King’s staff pension schemes as monarch’s £13m tax bill revealed

    News
  • ‘Anti-growth’: Labour blocks Canada skyscraper plans

    London
    Historic Tower of London under clear blue sky, showcasing iconic medieval architecture and stone walls, attracting tourist...
  • Property rich, pension poor: Meet the ‘sleepwalking’ generation

    Personal Finance
    Mansion House meeting of pension fund leaders discussing investment strategies and financial accords in a grand boardroom ...
  • Pension funds must ’embrace’ private markets to fuel growth

    Investing
    Skyline of Canada with iconic financial district buildings, highlighting UK investments and economic growth.
  • Time to Aim higher: ‘No visible effect’ of flagship pensions overhaul a year on, industry chief warns

    Investing
    Mansion House meeting of pension fund leaders discussing investment strategies and financial accords in a grand boardroom ...
  • Millions of Brits face retirement ‘cliff-edge’ after not saving enough

    Personal Finance
    Mansion House meeting of pension fund leaders discussing investment strategies and financial accords in a grand boardroom ...
  • Co-Op and Next among firms launching workplace savings scheme

    Personal Finance
    Profit at Next rise 13.8 per cent in the first six months of the year

City PM — European politics, business and analysis.

Europe

  • Germany
  • France
  • Europe
  • UK & Ireland

Topics

  • Business
  • Markets
  • AI
  • Technology
  • Opinion
  • Energy

More

  • Politics
  • Economics
  • Fintech
  • Legal
  • Sport
  • Life

Company

  • About City PM
  • Editorial Policy
  • Corrections
  • Contact
  • Terms of Use
  • Privacy Policy
  • Cookie Policy
© 2026 City PM · Published by CityPM Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
About · Editorial Policy · Corrections · Contact · Privacy