HUNDREDS of Hampshire workers face being caught in a pensions trap after their firm was at the centre of a £1 billion buy-out.

Now unions are calling on NTL bosses to be fair to staff and fund a £60 million hole in their pension scheme.

The cable giant recently sold its TV broadcasting towers business to Australia's Macquarie Communications consortium for £1.27 billion.

The deal for NTL Broadcast, which is based at Crawley Court near Winchester, means that 1,260 staff have new bosses.

But 480 staff in an NTL final salary pension scheme fear the deal also means they may now be left out of pocket.

The scheme runs with a £60m black hole and NTL, which is hauling itself back into the black after severe financial difficulties, is making increased contributions of £12m a year to shrink the shortfall.

Unions are urging Macquarie to set up a pension scheme with identical benefits so members can transfer their money "seamlessly" from the NTL scheme.

But, because of the deficit there is not enough money in the pension pot to pay for the switch and therefore the workers will see their pension savings all but frozen.

The exact amount NTL would need to pay in to allow its former broadcast staff to switch to a new scheme is not clear but it is likely to run into tens of millions of pounds.

Members are understood to be keen to switch because they do not believe NTL will remain committed to the pension scheme.

David Beevers, national official for BECTU, the broadcasting union, said: "We want NTL to make up the deficit and transfer the scheme to Macquarie seamlessly.

We have written to them and they haven't said much at all.

"They did just get £1.27 billion for the business and they wouldn't have without the hard graft staff have put in. We are talking telephone numbers. We feel that they owe it to staff to fund the deficit."

He said Macquarie had been careful not to accept liability for the deficit as part of its deal with NTL and it was down to the company to make sure scheme members didn't lose out.

An NTL spokesman said negotiations were at an early stage, adding: "Consultations are ongoing."