Pen­sion dis­pute Ir­ish Life em­ploy­ees protest over end­ing of de­fined ben­e­fit scheme

The Irish Times - Business - - BUSINESS NEWS -

Al­most 800 Ir­ish Life em­ploy­ees who are mem­bers of Unite took strike ac­tion yes­ter­day in re­sponse to the com­pany’s “uni­lat­eral de­ci­sion” to close their de­fined ben­e­fit pen­sion scheme, even though it has a €240 mil­lion sur­plus. The 24-hour stop­page was ac­com­pa­nied by a rally out­side the group’s head­quar­ters on Dublin’s Lower Abbey Street. The State’s largest life in­sur­ance and pen­sions group sig­nalled last year that it in­tended to stop mak­ing con­tri­bu­tions to the plans where re­tire­ment pay­ments are linked to the fi­nal salary of em­ploy­ees.

PHO­TO­GRAPH: TOMMY CLANCY

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