FORMER WATERFORD CRYSTAL workers have today voted in favour of the €178 million pension deal
At a meeting in Dublin today, the former employees voted unanimously in favour of the proposal, which will see the end of their five year battle to get their pension entitlements.
The pension deal, signed off on by Cabinet this week, means former employees will receive significant pensions and a tax-free lump sum.
Pension
The workers will now receive an average of 82% of their entitlements, including the amounts previously distributed by the schemes, as well as a lump sum payment of €1,200 per year of pensionable service. The families of deceased workers will also benefit from the terms of the settlement.
The settlement follows last year’s landmark ruling by the European Court of Justice, which found that the Irish State had failed to protect the workers’ pension entitlements.
The factory in Waterford closed in 2009 with the loss of over 1,000 jobs.
Regional Secretary Jimmy Kelly said the settlement negotiated by Unite and unanimously endorsed by members today is not only a victory for workers, but it is also a victory for the trade union movement.
Today is a day of celebration for the workers and for the city of Waterford, which will see the benefits of the settlement in terms of increased consumer spending and confidence.Now, however, the task facing the trade union movement as a whole is to campaign for policy change which will ensure retirement income security for all workers.
To embed this post, copy the code below on your site
have your say