TATA Steel UK Ltd has launched a new initiative in its efforts to resolve the pension dispute with its UK trade unions, it was announced today.

It comes after steelworkers marched through Newport to voice anger at pension changes yesterday.

The company has approached ACAS (Advisory, Conciliation and Arbitration Service) to help facilitate the next phase in talks between the parties.

Tor Farquhar, executive director of human resources at Tata Steel’s European operations, said: “We have contacted ACAS to bring in independent expertise in mediating a resolution to the UK pension dispute.

“We have requested ACAS to immediately approach the National Trade Union Steel Coordinating Committee to ask them to attend talks.”

Industrial action, consisting of an overtime ban and a work to rule, is currently scheduled to start on Tuesday June 16, with a one-day strike planned for Monday June 22.

Mr Farquhar added: “We have been talking to the trade unions since November 2014 to develop a fair and sustainable pension scheme for all UK employees.

“The company and unions agree that changes need to be made to tackle the scheme’s projected shortfall of up to £2 billion.

“It remains the company’s intention to provide a high quality and competitive pension scheme for our employees while continuing Tata Steel’s significant record of investing in its UK assets so we can build a sustainable business here.”