This site uses cookies to improve your experience and to provide services and advertising. By continuing to browse, you agree to the use of cookies described in our Cookies Policy. You may change your settings at any time but this may impact on the functionality of the site. To learn more see our Cookies Policy.
OK
Dublin: 13 °C Friday 24 May, 2019
Advertisement

Former Waterford Crystal workers unanimously vote in favour of €178m pension deal

The factory in Waterford closed in 2009.

Image: PA Archive/Press Association Images

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.

Read: Woman killed and two teenagers injured in Kerry road accident>

Read: Check out this remarkable Pathé footage of the Great North Strand Floods of 1954>

  • Share on Facebook
  • Email this article
  •  

Read next:

COMMENTS (50)

This is YOUR comments community. Stay civil, stay constructive, stay on topic. Please familiarise yourself with our comments policy here before taking part.
write a comment

    Leave a commentcancel