STEELWORKERS have voted to accept pension changes.

Staff at Tata Steel have accepted a proposal to amend their retirement pots as the business seeks to continue turnaround plans.

Bosses last year revealed plans to close the British Steel Pension Scheme and replace it with a defined contribution scheme.

The offer also included a commitment to spend £1bn on its Port Talbot works and no compulsory job losses.

According to a ballot of Community, Unite and GMB union members, have overwhelmingly backed the changes.

Roy Rickhuss, Community general secretary, said: “We now expect Tata to make good on their promises and deliver the investment plan for the whole of their steel business.”

The pensions pot was long been seen as a barrier for potential buyers of Tata’s UK business and the company was previously forced to deny union claims it was looking to shut the fund to sidestep a £60m payment.

The changes come amid a restructure of Tata’s UK operations, which has seen the business sell its loss-making Long Products division, which includes the Teesside Beam Mill, near Redcar, to investor Greybull Capital for £1 and offload its Speciality Steels arm to Liberty House Group.

The Northern Echo also previously revealed Tata is in talks over its Hartlepool pipe mills.

The Echo has reported Liberty’s interest in taking on sections of the operation, which processes steel for the offshore energy sector.

Neither side have commented, however, industry sources say if a bid is successful, around 250 jobs could be safeguarded, with a similar number staying at Tata’s 20-inch Hartlepool mill, which is understood not to be for sale.