Public and Commercial Services (PCS) union members have called off their strike action at The Pensions Regulator (TPR) and returned to work.

The strike action was called off following “extensive close engagement and many productive conversations”, which have led to the regulator committing to securing the funding for a pay rise.

PCS union members at TPR began strike action in November 2023 and were due to resume their industrial action this week.

However, that’s now been called off, with TPR committed to getting funding for the full percentage pay increase to the overall pay pot proposed by the 2024/25 Civil Service Pay Remit Guidance.

PCS had previously stated that its members were being offered a pay rise of 3 per cent, while other civil service employers were paying a 4.5 per cent increase.

TPR revealed that it is now engaging with the Department for Work and Pensions (DWP) on its pay strategy for the year ahead.

The regulator has also committed to submitting a pay flexibility case for the Pay Remit Guidance year 2024/25 and said it will work with the PCS union on the principles of a pay flexibility case to assess all the options available.

TPR noted that this is subject to being allowed under the rules of next year’s pay flexibility guidance and receipt of the Civil Service Pay Remit Guidance, and will be informed by the findings of its review of pay bands and bonus review.

The PCS union and TPR will engage in “meaningful consultation” on TPR’s employee value proposition.

“These discussions will take place very soon and meetings have already been scheduled to take these forward,” TPR stated.

“TPR welcomes the suspension of this strike action and looks forward to all its valued colleagues returning to work and helping us deliver for pension savers.”

---