Staff at vehicle breakdown service the AA have voted in favour of a strike over proposed changes to the firm’s pensions scheme.
The dispute could lead a number of workers to seek equity release advice in a bid to safeguard their retirements.
A ballot, which garnered a turnout of more than 87 per cent of AA staff, revealed that 57 per cent are in favour of industrial action after the company proposed introducing a 2.5 per cent cap on the amount of pay rises that count toward pensionable pay.
Andrew Strong, AA Services chief executive, said: "We have committed to increase our contributions by 40 per cent and have improved our offer by raising the cap, so we feel the union is out of touch with the real world on this issue.
"This is not a strong mandate to strike and we would urge the union to think again. When you look at problems that beset Readers Digest and many blue-chip companies over their pension deficits we believe that the fact that we want to keep our defined-benefit scheme open is good news."
Disputes over pension schemes could lead to rise in the popularity of lifetime mortgages, which can boost a retired homeowner’s income with money taken from the value of their property assets.
Posted by Alison Stephenson 
