Former Grangemouth BP workers take legal action against the company

Members of the 2500-strong BP Pensioner Group feel they have suffered as a result of receiving the double blow of a significant reduction in the value of their

pensions at the same time as having to deal with an unprecedented cost of living crisis.

Now legal letters have been issued to senior members of BP management and directors of the BP Pension Fund Trustee.

The dispute relates to decisions made in 2022 and 2023 by BP and the Pension Fund Trustee which led directly to an 11 per cent fall in the value of the pension in real terms.

The BP Pensioner Group wants both BP and the Trustee to explain why increases have been provided at substantially lower levels than could have been provided for under the scheme.

If adequate responses are not received, the Pensioner Group feels it will have little option but to escalate its own legal response until pension increases

are restored to what they believe is an “adequate level”.

Speaking on behalf of the group, Mike Slingsby, a former senior manager at BP, said: "It is a matter of deep regret after seven months of innumerable letters, e-mails and telephone calls, neither BP’s leadership nor the Trustee Chairman have seen fit to hold a single direct conversation or meeting with the Pensioner Group, which represents some 2500 members of the BP Pension Fund.

"This has forced us, reluctantly, to take formal legal steps against the company we served loyally for much of our careers and lives.”

BP stated it was aware the higher cost of living presented challenges for many and it had been listening to concerns of BP pensioners.

A BP spokesperson said: “The trustees of the BP Benevolent Fund have worked to modernise and future proof the fund and will rename it the ‘BP Helios Fund’.

BP has also provided additional funding to enable the fund to support those most in need.

“As a result, in addition to the longstanding support this fund has provided to certain former UK employees experiencing hardship, it is offering a one-off, tax-free, cost-

of-living assistance grant to UK BP pensioners on lower incomes.

"Details of the grant, and how to apply for it, are being sent to all those who BP understands may be eligible across the UK. For pensioners who used to work at our

UK retail sites, a similar arrangement has been set up with the Retail Trust, a registered national charity for the retail sector.

“This year BP did not agree to a request from the BP Pension Fund Trustee for an additional discretionary increase of four per cent to pensions in payment, which

would have made a total increase of nine per cent.

“This was a difficult decision that BP took only after carefully considering many factors. We will be holding an information session for pension plan participants in the

new year and further details about this session will be issued to BP Pension Fund members shortly.”