Ireland -Waterford Crystal workers get their pensions -December 14, 2014

Former employees of Waterford Crystal have reached a deal over pension payments with the government. As reported in the newsletter of August 2013, the Waterford Crystal workers lost about 80% of their pension entitlements after the company and its pension scheme became insolvent.

Former employees of Waterford Crystal have reached a deal over pension payments with the government. As reported in the newsletter of August 2013, the Waterford Crystal workers lost about 80% of their pension entitlements after the company and its pension scheme became insolvent. Subsequently, the European Court of Justice ruled that the Irish state had an obligation to protect workers in double insolvency cases and was responsible for compensating the workers by guaranteeing at least 49% of the entitlements. The 1,700 former employees now voted in favour of a proposal that includes an average €40,000 lump sum payment and annual pension payments. The cost of the €188 million scheme is borne by central funds.

English: http://www.rte.ie/news/2014 ...  


For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Mariya Nikolova mnikolova@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. You may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.


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